Adam Peterson
This listing was posted on RealtyWW.
$7,200,000
Plot For Sale In Long Beach, California
Price:
$7,200,000
Location:
937 Pine Ave, Long Beach, CA
Description:
140-Unit Development Site in Prime Long Beach, Entitled at COE. Available for sale or joint venture, the offering consists of a forthcoming entitlement for a140-unit multifamily project on.516 acres of land situated on the corner of Pine Ave. and 10th St. Located just north of Downtown Long Beach and around the corner from the Pacific Ave. Blue Line light rail, the three-parcel site is subject to attractive high density zoning ideal for multifamily development. 937-947 Pine Ave. offers an incredible, walkable amenity base and transit connectivity. Ownership is in the process of obtaining an entitlement for a140-unit, woodframe over concrete podium, 8-story, at-grade apartment project with 15 restricted affordable units and approximately 2000 square feet of ground floor retail/amenity space. New construction apartments in Downtown Long Beach and the surrounding area achieve rents surpassing $4 per square foot, well above the submarket and County averages. As part of a state-mandated housing planning process to relieve the current housing shortage, the city of Long Beach is tasked with adding over 26, 000 new homes to its housing stock by 2029. Housing permits have decreased significantly since over 1000 units were permitted in 2021 suggesting a lack of new supply once 937-947 Pine is expected to deliver.For more details: https://realtyww.info/land-lots_long-beach-d523493/for-sale_i70023972
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More About this Listing: Plot For Sale In Long Beach, California
Plot For Sale In Long Beach, California is a Land for Sale at 937 Pine Ave in Long Beach CA. Find other listings like Plot For Sale In Long Beach, California and listings near 937 Pine Ave by searching Oodle Classifieds for Land for Sale in Long Beach CA.
Plot For Sale In Long Beach, California is a Land for Sale at 937 Pine Ave in Long Beach CA. Find other listings like Plot For Sale In Long Beach, California and listings near 937 Pine Ave by searching Oodle Classifieds for Land for Sale in Long Beach CA.