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940 E Martin Luther King Jr Avenue, Long Beach, CA 90813

For Sale

$775,000

100 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • $7,750.00
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

42 UNITS POTENTIAL!!!! ...Prime 3-Parcel Development Portfolio Seize an unparalleled opportunity to develop 42 units in Downtown Long Beach with this strategically curated 3-property portfolio at 1012 E. 10th St, 1020 E. 10th St, and 640 Martin Luther King Jr Ave, Long Beach, CA 90813. This combined offering represents a rare convergence of prime urban infill land and robust state/local housing policies, positioning it for unparalleled highest and best use. In Long Beach's vibrant urban core, just a mile from its iconic waterfront, these properties reside in an area recognized for its rapid evolution as a dynamic hub for tourism, business, and essential transit. Downtown Long Beach's comprehensive plan champions a dense, mixed-use environment, prioritizing significant increases in residential and economic activity. This vision is supported by exceptional mobility, including direct access to the Metro Blue Line and high-quality bus corridors, for true walkability and reduced reliance on private automobiles (and parking spaces). THE ULTIMATE DEVELOPMENT ADVANTAGE Leveraging Policy Intersections for Maximum ROI: This portfolio is not just land; it's a strategic asset unlocked by the intersection of Long Beach s PD-30, SCAG s Regional Housing Needs Allocation (RHNA) and Sustainable Communities Strategy (SCS), plus the FED s Opportunity Zones and HUBzones, combined with key by-right entitlements buried in California's pro-housing legislation. Our in-depth analysis demonstrates the ability to significantly increase density, potentially achieving up to 42 units across this portfolio. The listing agent is a seasoned developer and consultant specializing in exploiting these exact policy intersections. His experience in Long Beach, and deep understanding of these legislative tools, will provide you with a clear roadmap for a truly "highest and best use" approach for this portfolio. Property Breakdown: 1012 E. 10th St (full-sized developed lot), 1020 E. 10th St (full-sized vacant lot), and 640 Martin Luther King Jr Ave (half-sized vacant lot) presenting a blank canvas and strategically positioned structures for redevelopment. This is a rare chance to capitalize on a future-proof investment. A comprehensive information package, detailing specific zoning regulations, potential density calculations, and applicable ministerial approval processes, is available to qualified buyers.
MLS# SB25126428

Courtesy Of eXp Realty of Greater Los Angeles, Inc

(888) 652-1314

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other

Map and Directions

Directions to 940 E Martin Luther King Jr Avenue, Long Beach, CA 90813

Home seller CENTURY 21 Union Realty Co.

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Union Realty Co.

(310) 371-6330
Learn More About Us

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.