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. Seller's motivated. Submit all offers with a Proof of funds.
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.
Property Type :
Land
Subdivision :
Fallbrook
County :
Los Angeles
Style :
Land
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ByOwner last updated this listing 05/04/2024 @ 14:50
MLS: PW23060481
LISTED BY: Mihwa Yi, eXp Realty of Southern Ca, Inc
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
