832 E 5th St - Micro-Unit Multi-Family Development Site

Marcus and Millichap REIS is pleased to present the sale of 832 E 5th Street, Long Beach CA, located at the southwest intersection of E 5th St and Alamitos Avenue. The offering is a development opportunity for a multifamily residential project located in Anaheim Beach District adjacent to Downtown Long Beach, CA.
The property is zoned LBPD30, which is the densest zoning designations in Downtown Long Beach. The current owner is seeking approval for a multi-story multi-family micro-unit project. The proposed project includes a seven-story building containing approximately a total of 63,734 square feet with 80 micro-residential units. The proposed project also includes 40 parking spaces located on the ground level and second level. The preliminary concept design package is available upon request.
The Downtown Long Beach Business District provides unique destinations, both historic and new. One of the city’s most revered attractions, The Queen Mary, arrived in Long Beach in 1967 and has since impressed millions of visitors with its art deco interiors and glimpses into a bygone era. The Aquarium of the Pacific, on the other hand, provides an intimate look into the future of marine biology and sustainability. Hotels, restaurants and other tourist-oriented venues including Shoreline Village, The Pike and Rainbow Harbor Waterfront surround the juggernaut that is the Long Beach Convention and Entertainment Center.
Downtown Long Beach is conveniently near the popular retail, entertainment, and dining district of Belmont Shore’s 2nd Street that offers more than 250 unique upscale boutiques, specialty shops, and a myriad of coffee shops, cafes, casual dining taverns, and electric international specialty restaurants. Other districts adjacent to the property include the East Village Arts District and 4th Street Retro Row. The property is approximately eight blocks to Alamitos Beach and seven blocks to the full-line Vons Supermarket. Also, nearby the property is the popular local Museum of Latin America Art (MOLAA). Lastly, approximately 4.3 million square feet of office space is within walking distance of the property with an estimated 34,000 current and 3,800 estimated future day-time job holders.
Downtown Long Beach is experiencing a major urban revitalization with public and private investment activating significant growth with over $3.5 billion in new investment including over 1,700 residential units recently completed or under construction and an additional 2,300 residential units approved for construction
or under review.