$1,500,000 - 425 Linden Avenue, Long Beach

  • 0Beds
  • Baths
  • SQ. Feet
  • 0.19Acres

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.

Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:OC20184245
  • Price:$1,500,000
  • Acres:0.19
  • Type:Lot-Land
  • Sub-Type:Lots and Land
  • Status:Active

Community Information

  • Address:425 Linden Avenue
  • Area:Downtown Area, Alamitos Beach (4)
  • Subdivision:Linden Avenue (LAV)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90802

Amenities

  • View:No View

Exterior

  • Lot Description:Value In Land

Additional Information

  • Date Listed:September 3rd, 2020
  • Days on Market:144
  • Zoning:LBPD30

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Provided By: Scott Hamilton(01125930), Engel & Voelkers.

Based on information from California Regional Multiple Listing Service, Inc. as of January 27th, 2021 at 4:56pm CST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.