3061 Long Beach,Long Beach, CA 90807
Long Beach, CA 90807
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.
Details
| MLS # | TR26109242 |
|---|---|
| Listing Type | For Sale |
| Style | Mixeduse |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1964 |
| Days On Site | 102 |
| Listing Provided By | Keystone Realty Group | Samir Rai |
Features
| SQ Feet | 1,392 |
|---|---|
| Story(s) | 1 |
| Units | 1 |
| Building(s) | 1 |
| Acreage | 0.16 |
Exterior
| Lot Features | Zero To One Unit Acre |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90807 |
| Area | 7 North Long Beach |
| Listing VS Median (in 90807) | |
Price: $749,000 low | high Med: $1,424,500 sqft: 1,392 low | high Med: 3,649 $ / sqft: $538 low | high Med: $392 On site: 102 low | high Med: 38.5 | |
Market Activity 90807
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90807 |
| Area | 7 North Long Beach |
| Listing VS Median (in 90807) | |
Price: $749,000 low | high Med: $1,424,500 sqft: 1,392 low | high Med: 3,649 $ / sqft: $538 low | high Med: $392 On site: 102 low | high Med: 38.5 | |