3061 Long Beach Blvd
Long Beach, CA 90807
Proposed - 14 Unit Apartment Development · Commerce de détail Propriété À vendre

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.