Marcus and Millichap REIS is pleased to present 955-957 East 4th Street in Long Beach, California. The subject property is a mixed-use property comprising of four separate buildings, containing approximately 4,748 square feet of leasable area. Currently, three buildings are residential and one building is commercial. The property was originally built in stages during the early 1920's - 1930's.
The commercial building is historically known as the Coffee Pot. The Coffee Pot building has a hexagonal front facade structure crowned with an oversized coffee pot on its roof. The building exemplifies the "programmatic" or "themed" fantasy architure of the past. The current owner renovated and upgraded the residential buildings and common area courtyard as well as the Coffee Pot exterior under the watchful supervision of the City of Long Beach and it's Cultural Heritage Commission.
The owner also recently leased the Coffee Pot to a high-end speciality salon called Salon Benders. The property is currently zoned PD-3- which allows for a rich mixture of uses, including residential, professional, retail, entertainment and other uses. Current zoning also allows for an approximately 28,800 square feet of maximum building area with an eighty (80) foot height limit. Potential Buyers must verify these details with the City of Long Beach.
An additional upside can be accomplished by re-positioning the current residential bungalow buildings to retail/commercial or food oriented uses, replacing a portion of the common area courtyard with an additional leasable building or completely redevelop the entire property (except for the Coffee Pot building) into a major mixed-use project.
Please contact Listing Agent for a detailed Offering Memorandum.
