421 Pacific AveLong Beach, CA 90802

Property Details for 421 Pacific Ave

Year built

1964

Construction

TILT-UP CONCRETE

Lot size

0.52 AC

Property size (Sq ft)

19,222 SF

Zone code

LBPD30

Property type

Grocery and convenience stores

APN

7280-010-015

APU

7280010015

Description

This exceptional 51,668 square foot commercial land parcel, located at 421 Pacific Avenue in the heart of Downtown Long Beach, California (zip code 90802), presents a unique redevelopment opportunity. Situated in Los Angeles County, this property boasts a strategic location within walking distance of popular city attractions. The lot is zoned LBPD30, permitting high-density residential or mixed-use development, offering significant potential for a variety of projects. The existing structure, approximately 23,000 square feet of retail space, could be incorporated into a larger development plan or removed to maximize the buildable area. This substantial land holding provides developers with a rare chance to create a landmark project in a thriving urban environment. The property's prime location and flexible zoning make it an ideal investment for those seeking to capitalize on the growing demand for residential and mixed-use developments in Downtown Long Beach. Detailed site plans and zoning information are available upon request. This is a truly exceptional opportunity to acquire a significant piece of Long Beach real estate.

• CAP approach

  CAP return

  Valuation

  6%

  $6,706,049

  6.5%

  $6,190,200

  7%

  $5,748,042

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,451,213

  Geo Method

  $15,451,213

• Alternative Use

  Use

  Valuation

  Residential

  $5,221,664

  Hospitality

  $4,783,017

  Educational

  $3,979,414

  Medical

  $4,116,272

  Retail

  $6,190,200

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.772

Longitude

-118.194

CBSA code

31080

CBSA name

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

Property Tax & Assessments

FAQs

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