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718 N Avalon, Wilmington, CA 90744
$3,950,000
718 N Avalon, Wilmington, CA 90744View this property at 718 N Avalon, Wilmington, CA 90744
718 N AvalonWilmingtonCA90744
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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.
Full Property Details
Full Property Details for 718 N Avalon
General
- Price: $3,950,000
- Status: Active
- Type: Lots/Land
- MLS ID: SB24034728
- Updated: 4/27/2024
- Days on Market: 78 days
- Added to Site: 79 day(s) ago
Location
- Area: 196 - East Wilmington
- County: Los Angeles
- Development Name: 196 - East Wilmington
- Driving Directions: South of Anaheim on Broad or Avalon
Utilities
- Water: See Remarks
Lot Features
- Property View: None
- Lot Size (Acres): 0.9975
- Lot Size (Sq. Ft.): 43,449
- Lot Size Source: Assessor
- Zoning: LAC2
- Lot Description: Suburban
Financial Considerations
- Price Per Sq. Ft.: $90.91
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed by West Shores Realty, Inc., Amie Shepard
Get Pre-Approved Today
Schools
Schools serving 718 N Avalon
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
500 Island Ave, Wilmington, CA 90744 | K-8 | 0.3 mi | |
1527 Lakme Ave, Wilmington, CA 90744 | 9-12 | 1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 718 N Avalon
Date
Details
Price
Change
Source
4/27/2024
Price Reduced
$3,950,000
-21%
MLS
2/19/2024
Listed
$4,999,999
1630.1%
MLS
12/19/1996
Sold
$289,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 718 N Avalon
Year
Property Taxes
Change
Tax Assessment
Change
2023
$2,610
4%
$170,605
2%
2022
$2,509
1%
$167,261
2%
2021
$2,487
-1%
$163,982
1%
2020
$2,506
3%
$162,302
2%
2019
$2,427
3%
$159,121
2%
2018
$2,356
2%
$156,002
2%
2017
$2,311
2%
$152,944
2%
2016
$2,273
1%
$149,946
2%
2015
$2,247
-1%
$147,695
2%
2014
$2,266
—
$144,802
—
2013
$2,266
—
$144,149
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 718 N Avalon
718 N Avalon, Wilmington, CA 90744 (MLS# SB24034728) is a Lots/Land property with a lot size of 0.9975 acres. 718 N Avalon is currently listed for $3,950,000 and was received on February 19, 2024. Want to learn more about 718 N Avalon? Do you have questions about finding other Lots/Land real estate for sale in Wilmington? You can browse all Wilmington real estate or contact a Coldwell Banker agent to request more information.