Property 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 consi

Address Map
CA
Los Angeles
Wilmington (los Angeles)
90744
718 N Avalon
0
W119° 44' 16.8''
N33° 46' 44.3''
South of Anaheim on Broad or Av
MLS Addon
West Shores Realty, Inc.
Amie Shepard
amie90250@gmail.com
CR213793
CR131823

Land For Sale

718 N Avalon, Wilmington (los Angeles), California 90744

29,766 Sqft
$2,650,000
Listing ID #CRSB24034728
Basic Details
Property Type : Land
Listing Type : For Sale
Listing ID : CRSB24034728
Price : $2,650,000
Lot Area : 29,766 Sqft
Status : Active
Property SubType : Unimproved Land
Agent info
Michael Roberts
Contact Agent