3061 Long Beach Blvd

Located in one of Long Beach’s most sought-after development zones and within a designated transit corridor, this corner-lot property presents a fully entitled opportunity to build a ±13,000 SF, 14-unit apartment complex. The planned three-story project features three affordable units and offers desirable amenities, including in-unit washer/dryers, dishwashers, a rooftop community space, and elevator access. Notably, the development requires no on-site parking, streamlining design and cost efficiency.

The site is currently occupied by a smog center operating on a month-to-month lease at $2,200/month, providing holding income during the pre-development period. Soil remediation and hazard cleanup are already underway, and the plans have been conditionally approved, allowing an incoming developer to proceed swiftly with construction.

Additional upside may be realized through potential land assemblage, as the adjacent owner controls four contiguous parcels totaling an additional 28,588 SF. There's also further income potential if the very-low and moderate-income units are leased through Section 8, offering attractive rental subsidies.

This is a rare chance to step into a shovel-ready multifamily development in a high-demand, transit-oriented Long Beach location with multiple avenues for future value creation.

Highlights:

• Potential land assemblage (adjacent owner owns four contiguous parcels totaling an additional 28,588 sqft)
• Located in a highly desired development zone and identified transit corridor 
• Plans are conditionally approved, with soil and hazard clean-up underway
• Additional rental opportunity if Very-Low Income and Moderate income units are rented to Section 8 housing