Property listed by eXp Realty of Greater Los Angeles, Inc., Brent Musson 213-268-2189
940 E Martin Luther King Jr Avenue
Long Beach, CA 90813
Square Ft.
100
$775,000
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,… Read More 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. Read Less
Listing Snapshot
Days Online
119
Last Updated
Property Type
Mixed Use
Square Ft.
100
Lot Size
0.06 Acres
Year Built
1949
MLS Number
SB25126428
30 Days Snapshot Of 90813
$469k
-6%
(avg) sold price
10
+233%
homes sold
87
+4%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1949, Levels: One, Living area: 100, 1 story, Common walls: NoCommonWalls
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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