Address
425 Linden Avenue Long Beach, CA
Price
$ 1,500,000
Property Attributes
- MLS#OC20184245
- TypeLand
- CountyLOS ANGELES
- CityLong Beach
- AreaDowntown Area - Alamitos Beach
- NeighborhoodLinden Avenue
- Zip90802
- Style
- Price$ 1,500,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size8,276 SqFt
Listing Provided Courtesy Of:
Scott Hamilton with Engel & Voelkers.
Data Source:
CRMLS
Property Description
425 Linden Avenue, a unique opportunity to acquire over 8,277 square feet of land located in the prime East Village Arts District within the Downtown Plan PD-30 in Long Beach, California and in the OPPORTUNITY ZONE. The site is suitable for the development of high-density residential units. This zoning may allow for up to a 49 unit development with a height limit of 80' with a 4.0 Floor Area Ratio (FAR). Density is based on parking and the current parking standards for the Downtown Plan PD-30 is (1) parking space per (1) unit and (1) guest space per (4) units. Parking standards can be reduced since the property is transit oriented with nearby Blue Line and bus routes. Also, the city allows for some parking to be off-site at nearby parking spots. The property is NOT located in the Coastal Zone. The site is currently surface parking for 24 cars potential to generate $28,800 annually in rent with day and night parking passes. The property is located on the main East Village Arts District street (Linden) and is steps away from the heart of the East Village on Linden around Broadway and 1st Street. The property is walking distance to shopping, restaurants, and the beach. Recent nearby new developments include a new 49 Unit development at 434 4th Street on the corner of 4th and Linden called The Linden. Also, nearby is seeing a surge in new adaptive reuse projects at 440 Elm Ave. a planned Events Venue under development and at 456 Elm Ave. a planned Cloud Kitchen under development.
| Price History | |
|---|---|
| 9/4/2020 | Listed $1,500,000 |
General Features
| Community Features | Biking, Curbs, Street Lights, Sidewalks, Urban |
|---|---|
| MLS Area | 4 - Downtown Area, Alamitos Beach |
| Property Type | Land |
| Subdivision Name | Linden Avenue (LAV) |
| Terms | Cash, Cash to New Loan, 1031 Exchange |
| View | None |
| Zoning | LBPD30 |
Exterior Features
| Lot Features | Value In Land |
|---|---|
| Lot Size Acres | 0.19 |
| Lot Size Area | 8277 |
| Lot Size Source | Assessor |
| Lot Size Square Feet | 8277 |
| Lot Size Units | Square Feet |
| Water Source | Public |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Master On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Zip Code Average in 90802
Price
Visits
Walkscore
Based on information from California Regional Multiple Listing Service, Inc. as of April 21, 2021 11:14 PM UTC 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, 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.
