917 Pine AveLong Beach, CA 90813

Property Details for 917 Pine Ave

Year built

1954

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

3,026 SF

Zone code

LBR4N

Property type

Medical offices

Property subtype

Medical centers

APN

7273-014-013

APU

7273014013

Description

This exceptional 0.17-acre development opportunity is situated at 917 Pine Avenue in the vibrant North Pine area of Downtown Long Beach, California (APN 7273-014-013). The property is offered fee simple and zoned PD30, allowing for high-density and mixed-use development. This zoning designation actively promotes transit-oriented development, walkability, and job creation, aligning with the city's vision for sustainable urban growth. The site's potential is further enhanced by its proximity to the adjacent parcel at 909 Pine Avenue, which is slated for the construction of a 49-unit micro-apartment building, including six affordable units. This neighboring development underscores the area's strong demand for residential housing and its suitability for high-density projects. The asking price for this exceptional land parcel is $1,399,000. This presents a unique chance to capitalize on the burgeoning growth and revitalization of Downtown Long Beach, creating a significant return on investment in a thriving urban environment. The property's location in Los Angeles County, zip code 90813, offers easy access to major transportation arteries and a wealth of amenities. This is a rare opportunity to acquire a strategically located parcel in a rapidly developing area of Long Beach.

• CAP approach

  CAP return

  Valuation

  6%

  $718,158

  6.5%

  $662,915

  7%

  $615,564

• Comparable approach

  Method

  Valuation

  Relative Method

  $965,234

  Geo Method

  $965,234

• Alternative Use

  Use

  Valuation

  Residential

  $822,014

  Hospitality

  $752,961

  Educational

  $626,454

  Medical

  $647,999

  Retail

  $974,485

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7782

Longitude

-118.193

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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