2035 Pacific AVE

Long Beach,CA 90806

$ 575000

$ 595000 3.4%

- Bed

0 Bath

- SqFt


Key Details

Sold Price $575,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 24354181

Sold Date

HOA Y/N No

Year Built 1948

Lot Size 4,673 Sqft

Property Description

Live/work and medical/dental conversion allowed per the City of Long Beach. We are please to present this 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 $1.19 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, clean interiors, HVAC systems, four car parking in the rear, a 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.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Zoning LBCNP

Interior

Fireplace No

Exterior

Total Parking Spaces 4

Building

Story 1

Others

Tax ID 7209024024

Special Listing Condition Standard

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