Recently reduced price. Great mixed use asset-residential and retail- in North Long Beach on a large oversized corner lot. The retail space sits along Long Beach Blvd and has 9,947 square feet of space. Currently used as a funeral home with an adjoining chapel which seats approximately 200 people. Property also includes 3 residential units- 2 units are over a detached four car garage and the third unit is on the 2nd floor of the retail building with exterior access to the unit. The property adjoins a quiet residential neighborhood and is located near a major freeway, The site also has a large parking lot for approximately 40 cars. The retail will be delivered vacant at close of escrow. The residential units can also be delivered vacant at COE.

The property site was reviewed by a professional urban planning firm with many years of experience in city planning, zoning, and land use entitlements areas. Based on their review the the site had the potential mixed use by requesting a General Plan Amendment and Zone Change of the entire 0.623-acre site to Neighborhood Service Center Low (NSC-L) in order to achieve the highest and best use of the property. If the City approves the requested Zone Change and General Plan Amendment, then the property owner can potentially achieve 27 units by right. The following State Density Bonus Program can also provide a 50% density bonus for an additional 14 units, with 15% or 6 units set aside as affordable.

• 27 Units by right

• 50% State Density Bonus Program: 27 X 0.50 = 13.5 = 14 units

• 14 units + 27 units = 41 units

• 41 units X 0.15 = 6 units set aside as affordable

• A 27,137 SF mixed-use building is achievable on this project site.

Overall, the highest and best use of the property would be a 41-unit mixed use development with four stories of apartment units and a ground floor of commercial retail uses. This potential project would be consistent with the City of Long Beach 2040 General Plan Goals and Policies and the Neighborhood Service Center development standards. This option would be subject to the buyer's own due-diligence and should be relied upon for general information only.

Heavy Daytime Traffic

Easy Access

Large Parking Lot

Security System

Corner Lot

Fenced Lot

Ample Storage Space

Air Conditioning