923 Long Beach Blvd - Residential LAND FOR SALE


Long Beach, CA 90813- Downtown Long Beach16,553 SF
$3,500,000 USD
415-408-1019
923 Long Beach Blvd, Long Beach, CA for Sale
$3,500,000 USD
Residential LAND - FOR SALE
1/6
16,553 SF

923 Long Beach Blvd
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • A variety of employment opportunities are available nearby
  • Exceptional rail access for an infill apartment site
  • Supportive downtown apartment fundamentals
  • The need for affordable housing is supported by local wage levels in sectors such as health care, education, hospitality, transportation, etc...

OVERVIEW

Northmarq, serving as the exclusive advisor, is proud to present an exceptional investment opportunity to acquire two adjacent land sites location at 923 & 927 Long Beach Boulevard in Prime Long Beach. Spanning a combined total of 0.38 acres, this transit-oriented development site is strategically positioned in the heart of Long Beach's vibrant downtown corridor, offering unparalleled access to transportation, employment hubs, and community amenities. Zoned under the Downtown Plan PD-30 Height Incentive Area, the site allows for a maximum Floor Area Ratio (FAR) of 5.0 and a height limit of 150 feet, making it ideal for a high-density residential development. Preliminary studies suggest the potential for a 9-story, 108 unit affordable housing project, with rents set at or below 80% of Area Median Income (AMI). The site benefits from its proximity to a diversified employment base, including St. Mary Medical Center, Long Beach Unified School District, the Port of Long Beach, and Long Beach City College, among others. These major employers provide a stable workforce and drive demand for affordable housing in the area. Additionally, Long Beach's strong apartment fundamental further reinforce the viability of this development. This offering represents a unique opportunity to invest in a high-potential development site in a thriving urban area with strong market fundamentals, significant public and private investment, and a growing demand for affordable housing.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/ACRE

$9,210,526/AC

PRICE/SF

$211 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

.38 Acre Transit-Oriented Development Site

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Residential

LAND PROPOSED USE

Multi-Family, Apartment Units

LAND ACRES

0.38 AC

LAND SF

16,553 SF

OFFSITE IMPROVEMENTS

Streets, Curb/Gutter/Sidewalk

ZONING

LBPD30 - Downtown Plan

APN/PARCEL ID

7273-012-011,7273-012-037

ASK ABOUT THIS PROPERTY

Tommy YatesNorthmarqMore Info
415-408-1019

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Tommy YatesNorthmarqMore Info
415-408-1019

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