335 Pacific Ave Long Beach, CA 90802-2318

This exceptional 15,000 square foot development site at 335 Pacific Avenue in Long Beach, California, presents a fully entitled opportunity to construct a 141-unit multifamily apartment building. The Class A property, with APN 7280-015-096, boasts a fee simple ownership and is zoned LBPD30. The existing structure, totaling approximately 9,726 square feet, currently generates income, offsetting holding costs. The proposed development includes 110 micro-units, catering to the growing demand for smaller, more affordable housing options in this vibrant area. The building will be ten stories high, encompassing a total of 116,493 square feet, with 63,583 square feet of net rentable space. Conveniently located in the heart of Downtown Long Beach, the site offers unparalleled access to the beach, mass transit, high-end retailers, shopping centers, restaurants, and hotels. Ample parking is provided with 86 car spaces and 54 bike spaces. This prime location along Pacific Avenue ensures high visibility and strong potential for rental income. The project's design addresses the immediate need for affordable housing in a rapidly gentrifying area, promising a strong return on investment. This is a rare chance to acquire a fully entitled development site in a highly desirable location.