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718 N Avalon

Wilmington, CA 90744
  • $3,950,000
  • STATUS: Active
  • ON SITE: 147 Days
  • ID#: SB24034728
UPDATED: 136 min ago
$3,950,000
  • 0
    BEDS
  • 1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Amie Shepard of West Shores Realty, Inc. (310-541-8000)


Description

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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-16T14:39:01.68. 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 deemed reliable but is not guaranteed accurate by the MLS or Brianna Miller | Synergy Real Estate. Licensed in the State of California, USA.
www.briannasellshomes.com/homes/147739586
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718 N Avalon Wilmington, CA 90744

  • Price: $3,950,000
  • Status: Active
  • On Site: 147 Days
  • Updated: 136 min ago
  • ID#: SB24034728
0
Beds
0
Baths
0
½ Baths
1
Acres
Neighborhood:
196 - East Wilmington
County:
Los Angeles
Area:
196 - East Wilmington
Property Description
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.
Exterior Features

Lot Features 0-1 Unit/Acre Sign On Property YN No View None View YN No

Property Features

Additional Parcels YN Yes Association Fee 0 Association YN No Common Interest None Community Features Suburban Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash to New LoanOwner May Carry New Construction YN No Senior Community YN No Special Listing Conditions Standard Water Source See Remarks Zoning LAC2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-16T14:39:01.68. 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 deemed reliable but is not guaranteed accurate by the MLS or Brianna Miller | Synergy Real Estate. Licensed in the State of California, USA.
 
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Brianna Miller | Synergy Real Estate
140 N. Harvard Avenue #341
Claremont CA, 91711
Listing Agent(s): Amie Shepard of West Shores Realty, Inc. (310-541-8000)