26
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$575,000
$595,000 3.4%
Est. payment /mo
4,673 Sqft Lot
Sold on 11/18/2024
2035 Pacific AVE Long Beach, CA 90806
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UPDATED:
Key Details
Sold Price $575,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 24354181
Sold Date 11/18/24
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
Listed by Oron Maher • Maher Commercial Realty
Bought with Judy Fike • REMAX Proper
Bought with Judy Fike • REMAX Proper
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