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201-231-245 W Pacific Coast Hwy 159 Unit Apartment Building For Sale Long Beach, CA 90806
Investment Highlights
- Covered Land Play $20,000/month MTM
- Prime Long Beach PCH location
- Entitlements approved in 2021
Executive Summary
201, 231, 245 W Pacific Coast Hwy, Long Beach, CA 90802 (1.1 AC ) Covered Land Play:
231, 245 is currently a 14,685 SF existing commerical building operating as a Supermarket on MTM and the vacant lot at 201 is being rented as parking lot for a nearby development.
2021 Entitled development site offered at price upon request. 1.1-acre parcel (Parcel B) is the primary listing and the anchor of a larger 1.59-acre assemblage opportunity. Site carries active entitlements for 159 residential units + 14,064 SF of ground-floor retail as part of a 5-story podium structure with 2 levels of below-grade parking (~257 spaces). Total gross building SF ~169,192. Buyer of this parcel should strongly consider acquiring adjacent Parcel A (1827 Pacific Ave, Long Beach, CA 90806, an additonal .49 AC, listed separately at $955,000) to unlock the full 159-unit entitlement. Estimated total project cost (excl. land) ~$57.6M based on $250/GSF hard costs + soft costs. Projected stabilized value ~$86.5M at $620/rentable SF. Call Justin Chu (626)321-3211 for pricing. Please contact Justin for the OM.
231, 245 is currently a 14,685 SF existing commerical building operating as a Supermarket on MTM and the vacant lot at 201 is being rented as parking lot for a nearby development.
2021 Entitled development site offered at price upon request. 1.1-acre parcel (Parcel B) is the primary listing and the anchor of a larger 1.59-acre assemblage opportunity. Site carries active entitlements for 159 residential units + 14,064 SF of ground-floor retail as part of a 5-story podium structure with 2 levels of below-grade parking (~257 spaces). Total gross building SF ~169,192. Buyer of this parcel should strongly consider acquiring adjacent Parcel A (1827 Pacific Ave, Long Beach, CA 90806, an additonal .49 AC, listed separately at $955,000) to unlock the full 159-unit entitlement. Estimated total project cost (excl. land) ~$57.6M based on $250/GSF hard costs + soft costs. Projected stabilized value ~$86.5M at $620/rentable SF. Call Justin Chu (626)321-3211 for pricing. Please contact Justin for the OM.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 43 | - | - |
| 1+1 | 89 | - | - |
| 2+2 | 19 | - | - |
| 3+2 | 8 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,916,728 CAD | |
| Land Assessment | $4,613,789 CAD | Total Assessment | $6,530,517 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$4,613,789 CAD
Improvements Assessment
$1,916,728 CAD
Total Assessment
$6,530,517 CAD
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201-231-245 W Pacific Coast Hwy
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