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PRICE $2,650,000 dsIDX morgage calculator
BEDS n/a
BATHS 0
HOME SIZE n/a
LOT SIZE 29,765 sqft

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.

DAYS ON MARKET 255 LAST UPDATED 10/2/2024
COMMUNITY East Wilmington COUNTY Los Angeles
STATUS Active PROPERTY TYPE(S) Lot/Land/Acreage

PRICE HISTORY
Prior to Apr 26, '24 $4,999,999
Apr 26, '24 - Aug 1, '24 $3,950,000
Aug 1, '24 - Oct 1, '24 $3,800,000
Oct 1, '24 - Today $2,650,000


ADDITIONAL DETAILS
AREA East Wilmington
HOA DUES 0
LOT 0.68 acre(s)
LOT DESCRIPTION 0-1 Unit/Acre
VIEW DESCRIPTION None
WATER See Remarks
ZONING LAC2
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with West Shores Realty, Inc.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from CRMLS as of 10/30/24 12:53 PM PDT. The information being provided by CRMLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

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