1827 Pacific AveLong Beach, CA 90806

Exceptional 0.37-acre commercial land parcel located at 1827 Pacific Ave, Long Beach, CA 90806, is offered for sale at $1,027,000. This property, with Assessor Parcel Number 7209-022-900, presents a unique opportunity for development within the Midtown Specific Plan Transit Node (SP-1-TN) zoning. The lot size is approximately 15,928 square feet, although a 2-foot alley dedication will be required, resulting in a net buildable area of roughly 15,800 square feet. The General Plan designates this area as Transit Oriented Development Low Density/7 Stories, allowing for significant development potential. The property's zoning allows for a range of uses, including residential development. However, a Residential Development Covenant mandates that if ten or more residential units are built, at least 15% must be sold or rented as affordable housing. The Specific Plan suggests a typical density of 30 to 60 dwelling units per acre, while the General Plan allows up to 44 units per acre for residential projects. Non-residential development is also possible, with a Floor Area Ratio (FAR) of 1.5 to 3.00. This prime location in Long Beach offers exceptional potential for investors seeking a high-return development opportunity in a thriving transit-oriented area. The seller is the City of Long Beach.