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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 Type(s):
Lot/Land/Acreage
| Last Updated | 11/21/2024 | Community | East Wilmington |
|---|---|---|---|
| County | Los Angeles |
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 |
Location
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Listed with West Shores Realty, Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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