917 Pine AveLong Beach, CA 90813

  • Healthcare properties
  • 3,026 SF
For Sale
$1,399,000 View listing

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
Healthcare properties
Property subtype
Medical offices
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
917 Pine Ave, Long Beach, California

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

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
$10,210
$341,637
$389,466
$731,103
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