718 N Avalon, Wilmington, CA 90744 (MLS # SB24034728)

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PRICE $4,999,999 dsIDX morgage calculator
BEDS n/a
BATHS 0
HOME SIZE n/a
LOT SIZE 43,452 sqft

Rare opportunity to acquire Opportunity Zoned lot assemblage totaling 43,449 square feet via Assignment. These parcels have been 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 vested will afford 100,196 sf of building space.This project is currently 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 viewing. Full assignment of the project can include seller-financing for the land acquisition for up to 2 years.Project consists of 3 separate buildings that can be built in phases. Assignee can build all 3 or sell individually in RTI status.

DAYS ON MARKET 55 LAST UPDATED 2/19/2024
COMMUNITY East Wilmington COUNTY Los Angeles
STATUS Active PROPERTY TYPE(S) Lot/Land/Acreage


ADDITIONAL DETAILS
AREA East Wilmington
BUYER'S BROKERAGE COMPENSATION 2.500 %
HOA DUES 0
LOT 1 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.

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