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Listed by Brent Musson • eXp Realty of Greater Los Angeles, Inc.
$ 900,000
Est. payment /mo
Active
1012 East 10th Street Long Beach, CA 90813
2 Beds
1 Bath
2,016 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 2,016 sqft
Price per Sqft $446
MLS Listing ID SB-25122645
Bedrooms 2
Full Baths 1
Year Built 1949
Lot Size 7,500 Sqft
Property Sub-Type Commercial/Residential
Property Description
52 UNITS BY RIGHT!!!! ...Prime 3-Parcel Development Portfolio - - - - Seize an unparalleled opportunity to develop 52 units in Downtown Long Beach with this strategically curated 3-property portfolio at 1012 E. 10th St, 1020 E. 10th St, and 640 Martin Luther King Jr Ave, Long Beach, CA 90813. This combined offering represents a rare convergence of prime urban infill land and robust state/local housing policies, positioning it for unparalleled highest and best use. In Long Beach's vibrant urban core, just a mile from its iconic waterfront, these properties reside in an area recognized for its rapid evolution as a dynamic hub for tourism, business, and essential transit. Downtown Long Beach's comprehensive plan champions a dense, mixed-use environment, prioritizing significant increases in residential and economic activity. This vision is supported by exceptional mobility, including direct access to the Metro Blue Line and high-quality bus corridors, for true walkability and reduced reliance on private automobiles (and parking spaces). THE ULTIMATE DEVELOPMENT ADVANTAGE - Leveraging Policy Intersections for Maximum ROI: This portfolio is not just land; it's a strategic asset unlocked by the intersection of Long Beach's PD-30, SCAG's Regional Housing Needs Allocation (RHNA) and Sustainable Communities Strategy (SCS), plus the FED's Opportunity Zones and HUBzones, combined with key by-right entitlements buried in California's pro-housing legislation. Our in-depth analysis demonstrates the ability to significantly increase density, potentially achieving up to 42 units across this portfolio. The listing agent is a seasoned developer and consultant specializing in exploiting these exact policy intersections. His experience in Long Beach, and deep understanding of these legislative tools, will provide you with a clear roadmap for a truly "highest and best use" approach for this portfolio. Property Breakdown: 1012 E. 10th St (full-sized developed lot), 1020 E. 10th St (full-sized vacant lot), and 640 Martin Luther King Jr Ave (half-sized vacant lot) - presenting a blank canvas and strategically positioned structures for redevelopment. This is a rare chance to capitalize on a future-proof investment. A comprehensive information package, detailing specific zoning regulations, potential density calculations, and applicable ministerial approval processes, is available to qualified buyers.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4N
Interior
Interior Features Copper Plumbing Full
Heating Heat Pump
Cooling Heat Pump
Fireplaces Type None
Laundry Gas & Electric Dryer Hookup, Individual Room, Washer Hookup
Exterior
Garage Spaces 1.0
Pool None
Community Features Biking, Fishing, Park, Urban, Watersports
View Y/N Yes
Building
Lot Description Near Public Transit, Yard, Back Yard
Sewer Public Sewer