421 Pacific AveLong Beach, CA 90802

  • Retail properties
  • 19,222 SF
For Sale

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
421 Pacific Ave, Long Beach, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$34,779
$1,362,804
$430,918
$1,793,722
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-
-
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FAQs

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