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940 E Martin Luther King Jr AVE Long Beach, CA 90813
100 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 100 sqft
Price per Sqft $7,750
MLS Listing ID SB25126428
HOA Y/N No
Year Built 1949
Lot Size 2,500 Sqft
Property Sub-Type Mixed Use
Property Description
Seize an unparalleled opportunity to develop 42 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 PD-30
Interior
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Pool None
Community Features Biking, Fishing, Park, Urban, Water Sports
View Y/N No
View None
Private Pool No
Building
Lot Description Back Yard, Near Public Transit, Yard
Dwelling Type Mixed Use
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Schools
School District Long Beach Unified
Others
Senior Community No
Tax ID 7274023011
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
