3061 Long Beach Blvd - Proposed - 14 Unit Apartment Development 0.15 Acres of Commercial Land Offered at $1,059,910 CAD in Long Beach, CA 90807

Exceptional opportunity to acquire a prime corner-lot multifamily development site located in one of Long Beach’s most sought-after transit corridors. Offered at a newly reduced price of $749,900, the property features conditionally approved plans for a ±13,000 SF, three-story apartment project consisting of 14 units (including 3 affordable units). Designed for maximum efficiency, the project carries no on-site parking requirement, significantly reducing future construction costs and maximizing net rentable square footage.
For investors seeking immediate cash flow during the entitlement and permitting process, the property is currently occupied by a cooperative month-to-month tenant who covers all day-to-day operational responsibilities. This provides a steady interim revenue stream with no maintenance burden to the owner.

Investment Highlights:
• Recent Price Reduction: Aggressively priced at $749,900 (down from $799,000) for a swift transaction with highly motivated sellers.
• Prime Corner Location: Situated directly on a designated transit corridor with rapid freeway access.
• Advanced Entitlement Status: Conditionally approved plans feature modern 3-story architecture, elevator access, in-unit laundry, and a rooftop community deck.
• Immediate Holding Income: Existing tenancy provides ongoing revenue that helps offset carrying costs while development steps are finalized. Tenant manages all daily operational needs.
• Assemblage Potential: Adjacent ownership controls adjacent parcels, offering a significant future expansion footprint.
• Environmental Status: Initial environmental studies have been completed and submitted. The Regional Waterboard has requested a final round of on-site and off-site drilling to conclude site characterization, with remaining costs estimated at $40,000–$50,000. Sellers will deliver all existing documentation.
14-Unit Multifamily Development Opportunity in Prime Long Beach Transit Corridor or keep this is a high cap rate income property. Currently generating $4000/month, tenant on MTM, and willing to work with the new owner to update their lease terms. This other bonus is this an Exceptional opportunity to acquire a potential 14-unit multifamily development site located in one of Long Beach’s most sought-after development zones and within a designated transit corridor. This corner-lot property has conditionally approved plans for a ±13,000 SF, three-story apartment project featuring 14 units, including three affordable units. The thoughtfully designed development includes modern amenities such as in-unit washer/dryers, dishwashers, elevator access, and a rooftop community space. The project also benefits from no on-site parking requirement, creating significant savings in both construction cost and design efficiency. This is a rare chance multifamily development in a high demand, transit-oriented Long Beach location with multiple avenues for future value creation. Highlights: Potential land assemblage (adjacent owner owns four contiguous parcels totaling an additional 28,588 sqft) Located in a highly desired development zone and identified transit corridor. Additional soil testing required by Regional Waterboard (first round of testing already submitted) with an estimated cost of $40-50k, sellers will provide all documentation to hand over on the transition.