2035 Pacific Avenue, Long Beach
Long Beach Home For Sale
Live/work and medical/dental conversion allowed per the City of Long Beach. Owner Would Consider Carry-Bank Financing to Qualified Buyers. We are please to present this renovated and vacant in-fill retail building on the highly trafficked Pacific Avenue retail corridor in Long Beach's famed South Wrigley shopping corridor. The property is located just blocks from the Northgate Market, The Wrigley Tavern, Happy Thai, Wicked Wolf Long Beach, Gaucho Beach Cafe and Gabriel's Burgers. This fully vacant building is also offered for lease at $1.80 per square foot, modified gross, making this a pro forma 9.4% cap rate upon stabilization. The building has been renovated and includes a roof replacement with a 5 year warranty, clean interiors, new HVAC systems in each retail unit and common area, four car parking in the rear, a roll-up door in the rear, high ceilings, 40' of frontage on Pacific Ave, a 600 AMP electrical panel that is not currently connected, fresh paint, and a clean interior. Flexible LBCNP zoning allows for several uses including live-work lofts, restaurants and professional offices. This is perfect for an owner-user wanting to take advantage of SBA or other commercial financing opportunities, or an investor wanting to collect a 9.4% stabilized cap rate return upon completion of building lease-up. At $196 per square foot, the building falls in line with the average price per square foot for other retail buildings along the Pacific corridor, but is better located than the average building on the corridor. Owner is a licensed California Real Estate Broker.
Property Details
Additional Information
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- City:
- Long Beach
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- County:
- Los Angeles
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- Zip:
- 90806
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- MLS® #:
- 24354181
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- Lot Size:
- 0.11
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- HOA Dues:
- $
Price Change History for 2035 Pacific Avenue, Long Beach, (MLS® #24354181)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced | $697,000 | $52,000 (6.94%) | |
| Price Reduced | $749,000 | $46,000 (5.79%) | |
| Price Reduced (from $878,000) | $795,000 | $83,000 (9.45%) |
Based on information from California Regional Multiple Listing Service, Inc. as of May 3rd, 2024 at 8:40am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.