3061 Long Beach Blvd - Auto Repair FOR SALE


Long Beach, CA 90807- Wrigley
$995,000 USD
925-683-9203
3061 Long Beach Blvd, Long Beach, CA for Sale
$995,000 USD
Auto Repair - FOR SALE
1/6
null | Request Cap Rate

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3061 Long Beach Blvd
Long Beach, CA 90807
Wrigley


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
  • Plans are conditionally approved with soil and hazard clean up underway
  • Additional rental opportunity if Very-Low Income and Moderate income units are rented to section 8 housing

OVERVIEW

Prime Long Beach Development Opportunity – Entitled 14-Unit Multifamily Project Located in one of Long Beach’s most sought-after development zones and within a designated transit corridor, this corner-lot property presents a fully entitled opportunity to build a ±13,000 SF, 14-unit apartment complex. The planned three-story project includes three affordable units and offers desirable amenities such as in-unit washer/dryers, dishwashers, a rooftop community space, and elevator access. Notably, the development requires no on-site parking, streamlining design and cost efficiency. The site is currently occupied by a smog center operating on a month-to-month lease at $2,200/month, providing holding income during pre-development. Soil remediation and hazard clean-up are already underway, and the plans have been conditionally approved, allowing an incoming developer to move swiftly into construction. Additional upside may be realized through potential land assemblage, as the adjacent owner controls four contiguous parcels totaling an additional 28,588 SF. There's also further income potential if the very-low and moderate-income units are leased through Section 8, offering attractive rental subsidies. This is a rare chance to step into a shovel-ready multifamily development in a high-demand, transit-oriented Long Beach location with multiple avenues for future value creation.

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$715 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Shovel Ready - 14 Unit Apartment Development

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

PPD2

APN/PARCEL ID

7206-011-031

ASK ABOUT THIS PROPERTY

Drew McAllisterNRE CommercialMore Info
925-683-9203

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Drew McAllisterNRE CommercialMore Info
925-683-9203

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.