335 Pacific AveLong Beach, CA 90802

Property Details for 335 Pacific Ave

Year built

1929

Lot size

0.34 AC

Property size (Sq ft)

9,726 SF

Zone code

LBPD30

Property type

Hospitality properties

Property subtype

Hotels

APN

7280-015-097

APU

7280015097

Description

This exceptional 15,000 square foot development site at 335 Pacific Avenue in Long Beach, California, presents a fully entitled opportunity to construct a 141-unit multifamily apartment building. The Class A property, with APN 7280-015-096, boasts a fee simple ownership and is zoned LBPD30. The existing structure, totaling approximately 9,726 square feet, currently generates income, offsetting holding costs. The proposed development includes 110 micro-units, catering to the growing demand for smaller, more affordable housing options in this vibrant area. The building will be ten stories high, encompassing a total of 116,493 square feet, with 63,583 square feet of net rentable space. Conveniently located in the heart of Downtown Long Beach, the site offers unparalleled access to the beach, mass transit, high-end retailers, shopping centers, restaurants, and hotels. Ample parking is provided with 86 car spaces and 54 bike spaces. This prime location along Pacific Avenue ensures high visibility and strong potential for rental income. The project's design addresses the immediate need for affordable housing in a rapidly gentrifying area, promising a strong return on investment. This is a rare chance to acquire a fully entitled development site in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,621,801

  6.5%

  $2,420,124

  7%

  $2,247,258

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,290,639

  Geo Method

  $7,290,639

• Alternative Use

  Use

  Valuation

  Residential

  $2,642,072

  Hospitality

  $2,420,124

  Educational

  $2,013,515

  Medical

  $2,082,762

  Retail

  $3,132,134

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7713

Longitude

-118.194

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].