923 Long Beach Blvd - .38 Acre Transit-Oriented Development Site 0.38 Acres of Residential Land Offered at $3,500,000 in Long Beach, CA 90813

Northmarq, serving as the exclusive advisor, is proud to present an exceptional investment opportunity to acquire two adjacent land sites location at 923 & 927 Long Beach Boulevard in Prime Long Beach. Spanning a combined total of 0.38 acres, this transit-oriented development site is strategically positioned in the heart of Long Beach's vibrant downtown corridor, offering unparalleled access to transportation, employment hubs, and community amenities.
Zoned under the Downtown Plan PD-30 Height Incentive Area, the site allows for a maximum Floor Area Ratio (FAR) of 5.0 and a height limit of 150 feet, making it ideal for a high-density residential development. Preliminary studies suggest the potential for a 9-story, 108 unit affordable housing project, with rents set at or below 80% of Area Median Income (AMI).
The site benefits from its proximity to a diversified employment base, including St. Mary Medical Center, Long Beach Unified School District, the Port of Long Beach, and Long Beach City College, among others. These major employers provide a stable workforce and drive demand for affordable housing in the area. Additionally, Long Beach's strong apartment fundamental further reinforce the viability of this development.
This offering represents a unique opportunity to invest in a high-potential development site in a thriving urban area with strong market fundamentals, significant public and private investment, and a growing demand for affordable housing.