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Broad Avenue Apartments
Wilmington, CA 90744
Broad Ventures Apartments · Land For Sale
·
0.68 AC
INVESTMENT HIGHLIGHTS
- Residential Apartment Development, Buildings Can be Built in Phases
- Opportunity Zone Advantage
- Seller-Financing Available on Land Acquisition
- 100% Affordable Housing Maximizes Density
- 2023 ED1 Vesting - Limited Chance to Build this Size!
- **Rendering for marketing purposes only.
EXECUTIVE SUMMARY
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.
Can be combined with adjacent lot at 129 E G Street, Wilmington for a total project size of 51,159sf.
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.
Can be combined with adjacent lot at 129 E G Street, Wilmington for a total project size of 51,159sf.
PROPERTY FACTS
| Sale Type | Investment | Proposed Use | Apartment Units |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.68 AC |
| No. Lots | 1 | No. Stories | 1 |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Residential | ||
| Zoning | "Villages - Neighborhood - Previously vested under the 2023 ED1. New Zoning as of 01/2025 [LM5-CC1-8] [CX6-10] [OL-CND]"Villages - Neighborhood Centers (CX6)" Previous LAC2. | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.68 AC |
| No. Stories | 1 |
| Opportunity Zone |
Yes |
| Zoning | "Villages - Neighborhood - Previously vested under the 2023 ED1. New Zoning as of 01/2025 [LM5-CC1-8] [CX6-10] [OL-CND]"Villages - Neighborhood Centers (CX6)" Previous LAC2. |
1 LOT AVAILABLE
Lot
| Price | $3,857,840 CAD | Lot Size | 0.68 AC |
| Price Per AC | $5,645,622.22 CAD |
| Price | $3,857,840 CAD |
| Price Per AC | $5,645,622.22 CAD |
| Lot Size | 0.68 AC |
The lot assemblage totals 29,766 square feet, across 5 parcels. Street to street lots between Broad & Avalon, separated by a small alleyway. Can be combined w/adjacent 21,393sf commercial lot located at 129 E G Street bringing total size to 51,159sf
DESCRIPTION
A total of 5 parcels encompassing 29,766 SF of mostly paved parking lots. Environmental reports have been completed and are available for review. Lots are zoned Villages-Neighborhood Centers CX6. [LM5-CC1-8] [CX6-10] [OL-CND].
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $25,132 CAD | |
| Land Assessment | $638,357 CAD | Total Assessment | $663,489 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$638,357 CAD
Improvements Assessment
$25,132 CAD
Total Assessment
$663,489 CAD
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