615 E Ocean Blvd, Long Beach, CA 90802

Property Description

Rare opportunity to acquire a Class A, mixed-use development site in the heart of prime Downtown Long Beach with high visibility and excellent walkability. The Property is located in the highly sought-after neighborhood of the East Village Arts District, a hip, urban and rapidly developing neighborhood in DTLB. Totaling approximately 18,233 square feet of land, with 100 feet of frontage on Ocean Blvd, this opportunity is one of the few remaining underutilized development sites along E Ocean Blvd. Located in the Downtown Plan development district and is zoned LB PD-30, which is the highest density zoning in all of DTLB, allowing a maximum FAR of 8.0:1 and height limit of 240 FT, and when utilizing incentives and bonuses, the site allows for an increased maximum FAR of 11.0:1 and height limit of 500 FT. Existing improvements include a vacant 3,852 square foot retail building, which will remain vacant to the Close of Escrow, and the remainder of the property is a parking lot. The Property is surrounded by countless amenities including an array of restaurants, shops, trendy bars, hotels, beaches, and cultural and entertainment venues. his is a per fect opportunity for an investor looking to acquire a trophy development site that boasts countless nearby amenities, high visibility, strong market fundamentals, and upward trending demographics.