$ 799,000
-
$799,000
Price -
0
Bed -
0
Bath -
1,392
SqFt
NEW! Buy and sell safely with virtual options - Learn More
About the Listing PB2246 - HRAISAM
14-Unit Multifamily Development Opportunity in Prime Long Beach Transit Corridor or keep this is a high cap rate income property. Currently generating $4000/month, tenant on MTM, and willing to work with the new owner to update their lease terms. 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. This corner-lot property has conditionally approved plans for a ±13,000 SF, three-story apartment project featuring 14 units, including three affordable units. The thoughtfully designed development includes modern amenities such as in-unit washer/dryers, dishwashers, elevator access, and a rooftop community space. The project also benefits from no on-site parking requirement, creating significant savings in both construction cost and design efficiency. This is a rare chance multifamily development in a high demand, transit-oriented Long Beach location with multiple avenues for future value creation. Highlights: Potential land assemblage (adjacent owner owns four contiguous parcels totaling an additional 28,588 sqft) Located in a highly desired development zone and identified transit corridor. Additional soil testing required by Regional Waterboard (first round of testing already submitted) with an estimated cost of $40-50k, sellers will provide all documentation to hand over on the transition.
Listing Highlights
Status
Active
Days on Site
0
Property Type
Commercial Sale
MLS ®
TR26109242
Year Built
1964
Total Square Footage
1,392
Lot/Acreage
0.16
County
Los Angeles
Area
7 - North Long Beach
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7206011031
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
3061 Long Beach Long Beach, CA 90807
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
