1160 Locust Avenue

    Long Beach, CA 90813
    • $775,000
    • STATUS: Active
    • ON SITE: 120 days
    • ID#: OC18196130
    UPDATED: 38 min ago
    $775,000
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,896
      SQFT
    • $158
      $/SQFT
    Type:
    Commercial
    Built:
    1910
    County:

    School Ratings & Info

    Description

    DEVELOPMENT OPPPORTUNITY FOR 10 STORY BUILDING ON POTENTIALLY 15,000 SF! This 4896SF corner lot occupies one of the last available large corners in Subarea 5 of Long Beach PD29 zoning. This is a prime Area of Downtown Long Beach within reasonable proximity to the beach, public transportation and all amenities and perfect for a 10 story development. Current owners already had pre-approval from the city for plans to build 8 units on the corner lot. The value proposition for this property relate to its location and zoning in LBPD29 Subarea 5. All the adjacent subareas (1 through 4) have height limitations from 50 to 100 feet and set backs between 5 to 7 feet. In Subarea 5, the building footprint can be maximized as the setbacks are 0+GG and the height limitation is 150+GG - the maximum height limit in the entire area. This corner lot is optimally positioned close to new construction, high end retail and medical commercial space and public transportation. The area has good foot traffic and heavy traffic volume. The City of Long Beach is heavily investing in this area and is encouraging mixed use, multi-family, and commercial consumer projects. Affordable Housing Grants through the City may be available. For more information on this opportunity please see the attached Supplements.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-12T11:27:24.737. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.sonyathebroker.com/homes/86516124

    1160 Locust Avenue Long Beach, CA 90813

    • Price: $775,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: OC18196130
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    4,896
    SQFT
    $158
    $/SQFT
    1910
    Built
    Neighborhood:
    4 - Downtown Area, Alamitos Beach
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    Property Description
    DEVELOPMENT OPPPORTUNITY FOR 10 STORY BUILDING ON POTENTIALLY 15,000 SF! This 4896SF corner lot occupies one of the last available large corners in Subarea 5 of Long Beach PD29 zoning. This is a prime Area of Downtown Long Beach within reasonable proximity to the beach, public transportation and all amenities and perfect for a 10 story development. Current owners already had pre-approval from the city for plans to build 8 units on the corner lot. The value proposition for this property relate to its location and zoning in LBPD29 Subarea 5. All the adjacent subareas (1 through 4) have height limitations from 50 to 100 feet and set backs between 5 to 7 feet. In Subarea 5, the building footprint can be maximized as the setbacks are 0+GG and the height limitation is 150+GG - the maximum height limit in the entire area. This corner lot is optimally positioned close to new construction, high end retail and medical commercial space and public transportation. The area has good foot traffic and heavy traffic volume. The City of Long Beach is heavily investing in this area and is encouraging mixed use, multi-family, and commercial consumer projects. Affordable Housing Grants through the City may be available. For more information on this opportunity please see the attached Supplements.
    Exterior Features

    Lot Features Corner LotCorners EstablishedLevel With StreetNear Public TransitValue In LandWalkstreet Lot Size Source Assessor Lot Size Units Square Feet Parking Total 4.00

    Interior Features

    Condo Area Units Square Feet Laundry Features In Kitchen

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Building Status Proposed Country Us Land Lease YN No Land Use Multi-Family Laundry YN Yes Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Property Sub Type Multi Family Special Listing Conditions Standard Water Source Public Zoning Pd29

    Listing provided courtesy of Serena Goss of Homesmart, Evergreen Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-12T11:27:24.737. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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