1722 Locust Ave., Long Beach

$998,000

1722 Locust Ave., Long Beach, CA
  • UNITS:  2
  • UNIT MIX:  (2) 2 Bed / 1 Bath Townhouses
  • YEAR BUILT: 1929
  • CAP RATE: N/A
  • GRM: N/A
  • BUILDING SF: 2,158
  • LAND SF: 12,324

DESCRIPTION

DEVELOPMENT OPPORTUNITY IN THE CORRIDOR DISTRICT OF LONG BEACH ON A RARE 12,325 SQ. FT. LOT!

Currently, the real estate consists of a classic 1929 Spanish-Style duplex, that has Two (2) 2 Bedroom / 1 Bath Townhouses, and a HUGE expanse of land in the rear that has alley access. With new developments surrounding the property, this complex is in the path of progress, and is just one block to the Light Rail Blue Line, as well as Class A Apartment developments. Recently Re-Zoned (SP1 – Midtown Specific Plan), the site allows for Residential, and/or Commercial Use, with the potential for 15-40 Units. Currently, the owner has preliminary drawings for a 25 Unit project. Whether you add value by fixing up the Duplex to its original charm, while also creating utilizing the back lot, or building additional units, this site offers tremendous upside!



LISTING BROKER(s)

Pat Swanson
Executive Vice President

MOBILE: 213.864.2862
EMAIL: pat.swanson@colliers.com
DIRECT: 949.724.5564
LICENSE #: 01382974