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718 N Avalon
For Sale $2,650,000
$2,650,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 29,766 Sq Ft
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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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,650,000 |
| Property Type | Lots/Land |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 0 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 7423002039 |
| MLS # | SB24034728 |
| Property ID | 320219896 |
| Lot Sqft | 29,766 |
| Zoning | LAC2 |
| Days on Market | 326 |
| Original List Price | $4,999,999 |
| Date Updated | November 21, 2024 |
| Date Created | February 19, 2024 |
Listing Provided By
Amie Shepard an agent of . Lic #01882892
© 2025 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of November 21, 2024 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT