937 Pine Avenue, Long Beach, CA 90813 (MLS # 24373895)
Twitter
Facebook
Email
|
140-Unit Development Site in Prime Long Beach, Entitled at COE. Available for sale or joint venture, the offering consists of a forthcoming entitlement for a140-unit multifamily project on .516 acres of land situated on the corner of Pine Ave. and 10th St. Located just north of Downtown Long Beach and around the corner from the Pacific Ave. Blue Line light rail, the three-parcel site is subject to attractive high density zoning ideal for multifamily development. 937-947 Pine Ave. offers an incredible, walkable amenity base and transit connectivity. Ownership is in the process of obtaining an entitlement for a140-unit, woodframe over concrete podium, 8-story, at-grade apartment project with 15 restricted affordable units and approximately 2000 square feet of ground floor retail/amenity space. New construction apartments in Downtown Long Beach and the surrounding area achieve rents surpassing $4 per square foot, well above the submarket and County averages. As part of a state-mandated housing planning process to relieve the current housing shortage, the city of Long Beach is tasked with adding over 26,000 new homes to its housing stock by 2029. Housing permits have decreased significantly since over 1000 units were permitted in 2021 suggesting a lack of new supply once 937-947 Pine is expected to deliver.
| DAYS ON MARKET | 32 | LAST UPDATED | 3/28/2024 |
|---|---|---|---|
| COMMUNITY | Downtown Area, Alamitos Beach | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Lot/Land/Acreage |
| ADDITIONAL DETAILS | |
| AREA | Downtown Area, Alamitos Beach |
|---|---|
| BUYER'S BROKERAGE COMPENSATION | 2.500 % |
| LOT | 0.52 acre(s) |
| LOT DESCRIPTION | Flat |
| LOT DIMENSIONS | 150x150 |
| SEWER | Other |
| VIEW | Yes |
| VIEW DESCRIPTION | Bay,Bridge(s),City Lights,Coastline,Harbor |
| ZONING | PD-30 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
| / | |
Based on information from CRMLS as of 4/28/24 12:35 PM PDT. The information being provided by CRMLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CRMLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
This IDX solution is (c) Diverse Solutions 2024.