Active
718 N Avalon
Wilmington CA, 90744
$3,950,000
$90.91 per sqft
Active
1 Acres
Land
Listed by Amie Shepard with West Shores Realty, Inc. 310-541-8000
Rare opportunity to acquire Opportunity Zoned lot assemblage totaling 43,449 square feet. These parcels were previously vested as a 208-Unit apartment building, offering 100% Affordable Housing. This unique opportunity to develop is located in the Wilmington neighborhood of Los Angeles. Architectural design submitted could afford 100,196 sf of building space.
This project was vested under the 2023 ED1, which is set to undergo imminent revisions. Scheduled to be trimmed back and codified within the next couple of weeks, the current zoning for 208 units will be drastically reduced. This renders the current phase a rare and time-sensitive opportunity, as it may no longer be viable once the codification process is complete.
Environmental inspections have been completed and reports are available for a separate fee. The project can include seller-financing for the land acquisition for up to 2 years. .
Project previously vested consists of 3 separate buildings that can be built in phases.
SB24034728
MLSⓇ ID
February 19, 2024
Listed
April 27, 2024
Updated
Map
718 N Avalon
Wilmington CA, 90744
Exterior/Building Features
Lot Size
1 Acres
Lot Features
0-1 Unit/Acre
Other Property Details
Area Name
196 - East Wilmington
Days on Market
67
Garage
No
View
No
View Description
None
County
Los Angeles
Water Source
See Remarks
Pool
No
Zoning
LAC2
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
|---|---|---|
4/27/2024 | Price Change | $3,950,000 -21% |
Listing Contact: 310-541-8000
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/27/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 4/27/2024 at 5:37 AM UTC