Address
201 W Pacific Coast Long Beach, CA
Price
$ 23,000,000
Property Attributes
  • MLS#OC21248618
  • TypeLand
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaDowntown Area - Alamitos Beach
  • NeighborhoodDowntown
  • Zip90806
  • Style
  • Price$ 23,000,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size1.58 Acres
Listing Provided Courtesy Of:
Kelvin Ho with Golden Mortgages & Associates Inc - 7147153439
Data Source:
California Regional MLS (CRMLS)
Property Description

We are proud to exclusively present for sale the 201 PCH mixed-use development project. It is one of the last few large corner lots available with 3 sides of street frontage and conveniently located within two miles from downtown Long Beach, California. 201 PCH (“the project”), is a fully-entitled and permit ready development site. The project offers the investor/ developer an opportunity to acquire a shovel-ready project that eliminates any entitlement risk; thus, saving money by reducing carrying costs. Additionally, it is located in an Opportunity Zone designation, a new tax saving strategy for long term real estate investor. It allows the investor to defer capital gain tax and eventually eliminates capital gains tax. The 201 PCH mixed use project is sold with approved entitlements and existing architectural plans. This project has been approved and ready to have permits by the city of Long Beach. The project consists of 4 parcels of land totaling ±1.59 acres, around ±69,000 square foot, located at the corner of Pacific Coast Hwy and Pacific Ave in the city of Long Beach. The project will feature ± 182,000 sqft of residential and commercial space, divided into two/five story multi-level mixed use buildings. It consists of 138-unit apartments on 2nd floor to 5th floors, with a mixture of 9 units of 0bad/1bed, 89 units of 1bed/1bath, 32 units of 2bed/2bath, and 8 units of 3bed/2bath. The total of residential rentable square foot is 115,000. The commercial square foot is 66,000 square foot, on the first level, including a market & storage area, business center, fitness, lobby, leasing office, and utility storage area. The complex will have all required parking spaces on four parking levels, with two levels of subterranean parking. The total square foot for garage area is 99,900 with a total of 258 parking spaces, including 25 spaces for electric vehicles and 78 spaces for bicycle parking.

Price History
11/15/2021 Listed $26,000,000
12/17/2021 12% - $23,000,000

General Features

Additional Parcels Description 7209022900, 7209022023, 7209022027
Additional Parcels Y/N Yes
Community Features Suburban
Electric Electricity - On Property
Listing Agent Kelvin Ho - BRE#01513761
Listing Agent State License 01513761
Lot Size Square Feet 69000
MLS Area 4 - Downtown Area, Alamitos Beach
Property Type Land
Senior Community Y/N No
Special Listing Conditions Standard
Status Active
Subdivision Name Downtown (DT)
Terms Cash, Cash to New Loan
Utilities Electricity Available, Natural Gas Available, Underground Utilities, Water Available
View None
Zoning LBCH

Exterior Features

Fencing Barbed Wire
Lot Features Corner Lot, Near Public Transit
Lot Size Acres 1.58
Lot Size Area 69000
Lot Size Source Assessor
Lot Size Units Square Feet
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Land Average in 90806

Price
AVG $11.68M
$23M
Visits
AVG 108
201
Walkscore
AVG 76
84
Data Provided by Walkscore ® not using MLS data

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