718 Avalon , Wilmington, CA 90744
  • MLS#: SB24034728 ( )
  • Street Address: 718 Avalon
  • Viewed: 5
  • Price: $2,650,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: Not Available
  • Bldg sqft: 0
  • Days On Market: 335
  • Additional Information
  • County: LOS ANGELES
  • City: Wilmington
  • Zipcode: 90744
  • Provided by: West Shores Realty, Inc.
  • Contact: Amie Amie
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    An updated development opportunity is now available in the Wilmington neighborhood of Los Angeles, offering an attractive proposition for experienced builders and developers. The lot assemblage totals 29,766 square feet, with potential for 100% Affordable Housing under the current 2023 ED1 emergency declaration, which remains active despite the original vesting expiration. This ongoing declaration provides flexibility in pursuing new plans, with initial architectural designs projecting maximum building area in phased development. Early discussions with City Planners have indicated support for an updated development proposal. The pricing has been revised to reflect the reduced project scope and ownership is open to discussions on seller financing for the land acquisition, with terms of up to two years. Environmental inspections have been completed, and the reports are available directly from the vendors for a nominal fee. A potential design option allows for phased development across multiple buildings, offering a methodical and strategic path for execution. Located within a designated Opportunity Zone, this site offers potential for considerable tax advantages and development design. For those seeking a well positioned project in Los Angeles, this is an offering worth close consideration. Buyer to verify all aspects of project site and design.
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Features
Additional Parcels Description
  1. 7423-002-037
  2. 7423-002-019
  3. 7423-002-018
  4. 7423-002-017
Association Fee
  1. 0.00
Commoninterest
  1. None
Country
  1. US
Days On Market
  1. 299
Lot Features
  1. 0-1 Unit/Acre
Parcel Number
  1. 7423002039
View
  1. None
Water Source
  1. See Remarks
Zoning
  1. LAC2