REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 749,000
Est. payment | /mo
6,769 Sqft Lot
$ 749,000
Est. payment | /mo
6,769 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID TR26109242
HOA Y/N No
Year Built 1964
Lot Size 6,769 Sqft
Property Sub-Type Mixed Use
Property Description
Exceptional opportunity to acquire a prime corner-lot multifamily development site located in one of Long Beach's most sought-after transit corridors. Offered at a newly reduced price of $749,900, the property features conditionally approved plans for a ±13,000 SF, three-story apartment project consisting of 14 units (including 3 affordable units). Designed for maximum efficiency, the project carries no on-site parking requirement, significantly reducing future construction costs and maximizing net rentable square footage. For investors seeking immediate cash flow during the entitlement and permitting process, the property is currently occupied by a cooperative month-to-month tenant who covers all day-to-day operational responsibilities. This provides a steady interim revenue stream with no maintenance burden to the owner.
Investment Highlights: Currently generating $4000/month, tenant on MTM, and willing to work with the new owner to update their lease terms/price. This other bonus is this an Exceptional opportunity to acquire a potential 14-unit multifamily development site located in one of Long Beach's most sought-after development zones and within a designated transit corridor.
Investment Highlights: Currently generating $4000/month, tenant on MTM, and willing to work with the new owner to update their lease terms/price. This other bonus is this an Exceptional opportunity to acquire a potential 14-unit multifamily development site located in one of Long Beach's most sought-after development zones and within a designated transit corridor.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Interior
Fireplace No
Laundry None
Building
Lot Description 0-1 Unit/Acre
Story 1
Water Public
Others
Tax ID 7206011031
Special Listing Condition Standard
Listed by Samir Rai Keystone Realty Group 909-994-9090, DRE #01868728
NEARBY SCHOOLS & PROPERTIES
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”