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711 Pine Ave - 49 Units on Pine

0.17 Acres of Commercial Land in Long Beach, CA 90813

INVESTMENT HIGHLIGHTS

  • Seller is Open to a Joint Venture Agreement, LP, and OZ Investors
  • Opportunity for In-Place Income from Retail Space to Offset Holding Costs Through RTI Permits
  • Located in an Opportunity Zone with a Qualified Opportunity Zone Fund Active for the Project
  • Fully Entitled 49 Unit Redevelopment Opportunity
  • Located in the Path of Progress on Pine Ave with Numerous Amenities and a 97 Walk Score
  • Grade-Level Parking to Avoid High Cost Subterranean Parking

EXECUTIVE SUMMARY

YoungLewin is proud to present a fully entitled, 49-unit redevelopment opportunity located on Pine Avenue, available for purchase, or joint venture. Perfectly positioned in the path of progress, this urban infill residential development offers significant potential for growth while providing the option for in-place income from potential retail tenants to offset holding costs during the redevelopment process.
This property is a walker's paradise with a 97 Walk Score and is located in a Qualified Opportunity Zone (QOZ), with an active QOZ fund already engaged in the project—offering investors the benefits of this strategic tax incentive.
The proposed development consists of 7 stories with 5-stories Type III construction over 2 stories of Type I. Lower level units range from 430 - 467 square feet and the top story mezzanine units range from 604 - 628 square feet. Property amenities for tenants include a modern lobby/lounge, coworking space, community rooms, a rooftop deck, and exclusive two-level mezzanine units.
The site is transit-oriented and highly walkable, providing convenience for residents with grade-level parking that includes 8 surface spaces and 50 bicycle parking spots. Ownership is open to joint venture opportunities, making this an attractive option for investors looking to capitalize on a high-growth area with a competitive return on cost potential.

DATA ROOM Click Here to Access

PROPERTY FACTS

Sale Type Investment or Owner User
Sale Conditions
1031 Exchange
  • Redevelopment Project
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use Apartment Units
Total Lot Size 0.17 AC
Opportunity Zone Yes

1 LOT AVAILABLE

Lot

Lot Size 0.17 AC
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (74)
Bike Score®
Very Bikeable (86)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
7273-023-011
Land Assessment
$286,289
Improvements Assessment
$226,013
Total Assessment
$512,302

ZONING

Zoning Code LBPD30
LBPD30
  • Listing ID: 33129886

  • Date on Market: 9/10/2024

  • Last Updated:

  • Address: 711 Pine Ave, Long Beach, CA 90813

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