Active

923 Boulevard

Long Beach CA, 90813

$3,300,000


$199.99 per sqft

Active

0.38 Acres

Land

Listed by Mihwa Yi with eXp Realty of Southern Ca, Inc 888-294-1415

Welcome to the exciting opportunity to invest in a prime 75-unit apartment construction project with entitlement in the vibrant city of Long Beach, California! Presenting a premium opportunity for developers to create a stunning 75-unit apartment complex on prime land in a highly sought-after location.

Property Highlights:
1. Prime Location: The property is conveniently located close to major transportation routes (only 6~7 minutes walk to the Anaheim station and the Fifth Street Station), shopping centers, entertainment, and employment centers, making it an attractive choice for renters. This location offers excellent connectivity to downtown Long Beach, neighboring cities and beyond.

2. Entitlements in Place: This development project comes with entitlements in place for 75 dwelling units, out of which 4 units are low-income units, saving you significant time and effort in obtaining other permits. This project contains 11 studio units, 53 One bedroom units, and 11 two bedroom units.

3. Approved Entitlement Description: New six-story residential building consisting 75 residential units with ground level and three levels of subterranean parking located on two separate lots in the Planned Development (PD-30) zoning district and High-Density Development Site.

4. This Project is within the scope of the previously-certified Downtown Plan Program Environmental Impact Report (PEIR).

5. Strong Market Demand: Long Beach is a thriving rental market with high demand for apartments. The city's diverse economy, job opportunities, and desirable location attract a diverse group of renters, including professionals, families, and students. The strong rental demand and limited supply in the area make this development project a promising investment opportunity.

6. With thoughtfully designed communal spaces, residents will enjoy a contemporary fitness center, a serene courtyard with outdoor seating and BBQ area, separate storage spaces, and ample parking for residents and guests.

Don't miss out on this exceptional investment opportunity in Long Beach. With entitlements in place, a prime location, strong market demand, and a proven development team, this 75-unit multi-family apartment project has the potential to deliver significant returns on your investment.

PW23060481

MLS ID

April 12, 2023

Listed

February 16, 2024

Updated

Map

923 Boulevard
Long Beach CA, 90813

Exterior/Building Features

Lot Size

0.38 Acres

Other Property Details

Area Name

4 - Downtown Area, Alamitos Beach


Days on Market

111


Garage

No


View

Yes


View Description

City Lights


County

Los Angeles


Water Source

Public


Pool

No


Zoning

LBPD29


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

2/7/2024

Active

2/7/2024

Price Change

$3,300,000

-6%

2/5/2024

Active

2/5/2024

Price Change

$3,300,000

-6%

12/12/2023

Pending

11/27/2023

Under Contract

9/28/2023

Pending

8/3/2023

Under Contract

7/12/2023

Price Change

$3,500,000

-8%

5/18/2023

Price Change

$3,800,000

8%

5/18/2023

Price Change

$3,500,000

-8%

Listing Contact: 888-294-1415 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/16/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/16/2024 at 4:16 AM UTC

 

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