11

425 LINDEN AVE Long Beach, CA 90802

$1,500,000

0.19

Acres

LBPD30

Zoning

291 days

On Website

Active

Status

425 Linden Avenue, a unique opportunity to acquire over 8,277 square feet of land located in the prime East Village Arts District within the Downtown Plan PD-30 in Long Beach, California and in the OPPORTUNITY ZONE. The site is suitable for the development of high-density residential units. This zoning may allow for up to a 49 unit development with a height limit of 80' with a 4.0 Floor Area Ratio (FAR). Density is based on parking and the current parking standards for the Downtown Plan PD-30 is (1) parking space per (1) unit and (1) guest space per (4) units. Parking standards can be reduced since the property is transit oriented with nearby Blue Line and bus routes. Also, the city allows for some parking to be off-site at nearby parking spots. The property is NOT located in the Coastal Zone. The site is currently surface parking for 24 cars potential to generate $28,800 annually in rent with day and night parking passes. The property is located on the main East Village Arts District street (Linden) and is steps away from the heart of the East Village on Linden around Broadway and 1st Street. The property is walking distance to shopping, restaurants, and the beach. Recent nearby new developments include a new 49 Unit development at 434 4th Street on the corner of 4th and Linden called The Linden. Also, nearby is seeing a surge in new adaptive reuse projects at 440 Elm Ave. a planned Events Venue under development and at 456 Elm Ave. a planned Cloud Kitchen under development.

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Details


Interior

Building And Construction
Property Sub Type
Land
Property Type
Land

Exterior And Lot
Lot Size Acres
0.19
Lot Size Square Feet
8277
Lot Size Units
Square Feet
Zoning
LBPD30

Area And Schools
City
Long Beach
County Or Parish
Los Angeles
Subdivision Name
Linden Avenue (lav)

Financial Info
Buyer Agency Compensation
2%

Listing By Engel & Voelkers – Scott Hamilton

MLS# OC20184245

Data Last Updated 1:07pm - 06/21/2021

California Regional MLS

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright© 2021 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright© 2021 California Regional Multiple Listing Service, Inc. All rights reserved.

90802 Statistics and Information

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