937 Pine Avenue
937 Pine Avenue
$7,200,000
22,500 / 0.52
Description
140-Unit Development Site in Prime Long Beach, Entitled at COE. Available for sale or joint venture, the offering consists of a forthcoming entitlement for a140-unit multifamily project on .516 acres of land situated on the corner of Pine Ave. and 10th St. Located just north of Downtown Long Beach and around the corner from the Pacific Ave. Blue Line light rail, the three-parcel site is subject to attractive high density zoning ideal for multifamily development. 937-947 Pine Ave. offers an incredible,...140-Unit Development Site in Prime Long Beach, Entitled at COE. Available for sale or joint venture, the offering consists of a forthcoming entitlement for a140-unit multifamily project on .516 acres of land situated on the corner of Pine Ave. and 10th St. Located just north of Downtown Long Beach and around the corner from the Pacific Ave. Blue Line light rail, the three-parcel site is subject to attractive high density zoning ideal for multifamily development. 937-947 Pine Ave. offers an incredible, walkable amenity base and transit connectivity. Ownership is in the process of obtaining an entitlement for a140-unit, woodframe over concrete podium, 8-story, at-grade apartment project with 15 restricted affordable units and approximately 2000 square feet of ground floor retail/amenity space. New construction apartments in Downtown Long Beach and the surrounding area achieve rents surpassing $4 per square foot, well above the submarket and County averages. As part of a state-mandated housing planning process to relieve the current housing shortage, the city of Long Beach is tasked with adding over 26,000 new homes to its housing stock by 2029. Housing permits have decreased significantly since over 1000 units were permitted in 2021 suggesting a lack of new supply once 937-947 Pine is expected to deliver.
- Listed by Adam Peterson • DRE #01815802 • Brokerage DRE #00868409 • CB Richard Ellis, Inc.
Property Details for 937 Pine Avenue
Zoning
PD-30
Parcel Number7273014008
AreaDowntown Area, Alamitos Beach (4)
Lot Size Area22500
Source Lot Size AreaAssessor
Assessor Parcel Number7273-014-008
DirectionsSouthwest corner of Pine Ave. & W. 10th St.
Location
LISTING UPDATED: 04/05/2024 12:01 AM
Property Details for 937 Pine Avenue
Status | Active |
---|---|
MLS # | 24-373895 |
Days on Market | 32 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Land |
MLS Type | Land Lot |
Year Built | - |
Lot Size | 0.52 AC |
County | Los Angeles County |
Location
Building Information for 937 Pine Avenue
Lot Size0.52 AC
Payment Calculator
$41,148 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 937 Pine Avenue
Property History for 937 Pine Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 937 Pine Avenue
Taxable ValueLand$804,150Additions$887,192Total$1,691,342
Tax Record2023$22,257 ($1,855 / month)
Home Facts
Total Finished SqFt7,500 SqFtAbove Grade Finished SqFt7,500 SqFtStories1Lot Size7,532 SqFtStyleOffice BuildingYear Built1932ZoningLBR4NCountyLOS ANGELESAPN7273-014-008
Schools near 937 Pine Avenue
This home is within Long Beach Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
International Elementary School PublicK to 5 | ||
Washington Middle School Public6 to 8 | ||
Polytechnic High School Public9 to 12 | ||
Renaissance High School For The Arts Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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