832 5th St Long Beach, CA 90802
- Parking lots & garages
- 12,000 SF
- 0.28 lot acres
Feb 25, 2020
Current Use by Public Records
- Parking lots & garages
Property Details for 832 5th St
- Year built
- 1992
- Lot size
- 0.28 lot acres
- Property size
- 12,000 SF
- Zone code
- LBPD30
- Property type
- Parking lots & garages
- APN
- 7281-005-003
- APU
- 7281005003
Description
This 0.28-acre commercial land parcel, located at 832 E 5th St in Long Beach, CA (zip code 90802), is offered at $3,195,000. Situated in the Anaheim Beach District, adjacent to Downtown Long Beach, this property presents a significant development opportunity. Zoned LBPD30, the densest zoning designation in Downtown Long Beach, it allows for a high-density mixed-use project. A preliminary architectural design, prepared by Architects Collective of Inglewood, CA, proposes a seven-story building encompassing approximately 49,951 square feet. This design includes 63 residential units, one 561-square-foot retail unit, and 37 parking spaces distributed across the basement, ground, and second levels. The design leverages state density bonus options (Gov Code 65915), including a minimum of 10% low or moderate-income units and reduced parking requirements (0.50 spaces per unit, no guest parking). The property benefits from its proximity to Downtown Long Beach, the Convention Center, and the waterfront, offering excellent access to beaches, shopping, dining, entertainment, freeways, and public transportation. Its location within a California Opportunity Zone adds further investment appeal. The complete architectural concept design package is available upon request. The vibrant Downtown Long Beach business district, attracting over six million visitors annually, includes landmarks such as the Queen Mary and the Aquarium of the Pacific, along with numerous hotels, restaurants, and entertainment venues. The Long Beach Convention and Entertainment Center, hosting 1.6 million visitors yearly, further enhances the area's appeal.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,725,000
- ML approach
- $2,910,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,481,000
Market price range: $1.20M - $7.17M -
Alternative Use
- Use
- Estimation
- PARKING LOT
- $4,135,000 Current use
- OFFICE BUILDING
- $4,250,000 Change: +3% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $3,795,000 Change: -8% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $3,505,000 Change: -15% Conversion: Difficult
- RETAIL STORES
- $3,370,000 Change: -18% Conversion: Difficult
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.181
- Latitude
- 33.7727
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
