130 Pine AveLong Beach, CA 90802

Property Details for 130 Pine Ave

Year built

1924

Construction

CONCRETE

Lot size

0.17 AC

Property size (Sq ft)

28,368 SF

Zone code

LBPD30

Property type

Office buildings

APN

7280-027-008

APU

7280027008

Description

This exceptional mixed-use building, located at 130 Pine Avenue in Long Beach, California, presents a compelling redevelopment opportunity. The 28,368-square-foot property, situated on a 7,521-square-foot lot (approximately 0.17 acres), boasts a prime location in the heart of Downtown Long Beach's Design and Entertainment District. The building, constructed in 1924 and renovated in 2019, is a four-story Class B structure with five units and currently has 25% occupancy. The property features a fully built-out restaurant space on the ground floor and three stories of turnkey creative office space above, totaling approximately 20,868 square feet. A sizable basement of approximately 7,500 square feet is also included and is elevator-served. The asking price is $5,950,000, translating to $209.74 per square foot. The property is zoned PD-30 and is offered as a fee simple ownership with a modified lease type and a 36-month lease option. While there is no on-site parking, numerous nearby parking structures offer monthly passes. This unique property is ideal for restaurant/bar operators, office users, and investors seeking a high-potential redevelopment project in a vibrant urban setting. The property's multi-tenant configuration allows for diverse income streams. The building's history and location combine to create a truly unique investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $6,732,550

  6.5%

  $6,214,661

  7%

  $5,770,756

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,048,825

  Geo Method

  $9,048,825

• Alternative Use

  Use

  Valuation

  Residential

  $7,706,180

  Hospitality

  $7,058,819

  Educational

  $5,872,854

  Medical

  $6,074,831

  Retail

  $9,135,552

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7687

Longitude

-118.192

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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