CBRE, Inc. as exclusive advisor is pleased to present “The
Residences at Linden,” a unique opportunity to acquire an
entitled 82-unit apartment development site with over 4,000
square feet of retail space located in the East Village Arts
District of Long Beach, California. The property is just five
blocks from the Pacific Ocean and four blocks to the Metro
Blue Line 1st Street Station. It is walking distance to numerous
restaurants, bars, retail shops and tourist attractions that
encompass the core of Downtown Long Beach. It enjoys a
Walk Score of 97 and a Bike Score of 86.
Regarded as one of the last affordable beach cities in
Southern California, the City of Long Beach is undergoing
a dramatic renaissance. Over $2.5 billion is currently being
spent on new construction in the City, including a new Civic
Center, the proposed Second & PCH project, the Queen Mary
Island project, and the new Cal State Long Beach project
on the “Acres of Books” site. Unemployment in the area
stands at 4.7% and approximately 9,000 new jobs are being
introduced into the market. The City is booming.
The Residences at Linden is fully entitled to build a mix of one
bedroom and two bedroom units, some with lofts. It is not
subject to the new Affordable Housing Linkage Fee and does
not fall into the Coastal Zone.
The property is offered to the market on an unpriced basis.
