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.
Property Details
Property Features
Listing Office:
Office Name: West Shores Realty, Inc.
Office Phone: (310) 686-4544
Listing Agent: Amie Shepard
Exterior Features
Exterior Information:
View: None
Lot Features
Lot Information:
Lot Size: 0.68 Acres
Other
Directions Information:
Directions: South of Anaheim on Broad or Avalon
Price Information
Listing Price Info
Price Summary:
List Price: $2,650,000
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Housing Market Comparison
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This property is $1.6M more than the Median Sold Price in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #SB24034728
Listing Office:
Office Name: West Shores Realty, Inc.
Office Phone: (310) 686-4544
Listing Agent: Amie Shepard
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/26/2024, 9:21:12 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
4
/10
George De La Torre Jr. Elementary School
500 Island Ave
Distance between this listing and this school0.28 miles
Public District Grades PK-5
4
/10
Fries Avenue Elementary
1301 N Fries Ave
Distance between this listing and this school0.70 miles
Public District Grades KG-5
4
/10
Gulf Avenue Elementary
828 W L St
Distance between this listing and this school0.78 miles
Public District Grades KG-5
Nearby Schools
5
/10
Harry Bridges Span School
1235 Broad Ave
Distance between this listing and this school0.58 miles
Public District Grades KG-8
4
/10
Wilmington STEAM Magnet
1700 Gulf Ave
Distance between this listing and this school1.46 miles
Public Magnet Grades 6-8
5
/10
Elizabeth Beth Hudson K - 8 School
2335 Webster Ave
Distance between this listing and this school2.79 miles
Public District Grades KG-8
Nearby Schools
2
/10
Dan M. Issacs Avalon High School
1425 N Avalon Blvd
Distance between this listing and this school0.90 miles
Public District Grades 9-12
5
/10
Phineas Banning High School
1527 Lakme Ave
Distance between this listing and this school1.07 miles
Public District Grades 9-12
10
/10
Dr. Richard A. Vladovic Harbor Teacher Preparation Academy
1111 Figueroa Pl
Distance between this listing and this school1.26 miles
The neighbors living near this home have an average income of $26,343. The most common annual income of people living in Los Angeles, CA is less than $35k. Residents typically live in single, no kids family. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 718 N Avalon
What is the listing price of this property?
The listing price of 718 N Avalon property is $2,650,000.
What type of property is this?
The property 718 N Avalon is land located in Wilmington, California, 90744.
Is this property for sale now?
Active Listing: 718 N Avalon is For Sale (Active/New) which means the seller is accepting offers.
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This home is located at 718 N Avalon in Wilmington, CA and zip code 90744 in the Wilmington neighborhood. This home sits on a 0.68 acre lot. It has been listed on Rocket Homes since February 19, 2024 and is currently priced at $2,650,000.
In November 2024, from all listings sold in Los Angeles, CA there were more than 512 sold above asking price, over 657 sold below and more than 177 were sold right at the asked price. In November 2024 in Los Angeles, CA there were 0.6% less homes for sale than in October 2024. While the average time on the market in November 2024 was 38 days, the median list price was $1,021,532.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS 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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