Investment Overview

Marcus and Millichap REIS is pleased to present the sale of 832 E 5th Street, Long Beach CA, located at the southwest intersection of E 5th St and Alamitos Avenue. The offering is a development opportunity for a multifamily residential project located in Anaheim Beach District adjacent to Downtown Long Beach, CA. The property is zoned LBPD30, which is the densest zoning designations in Downtown Long Beach. The current owner recently retained The Architects Collective, Inglewood, CA to investigate the opportunity to redevelop the property to mixed-use retail and multifamily, multi-story project utilizing density bonus options found in state law (Gov Code 65915), with a minimum of 10% low or moderate-income you are entitled to park the project at 0.50/unit with no guest parking. The proposed project includes a seven-story building containing approximately 49,951 square foot with 63 residential units and one retail corner unit containing approximately 561 square feet. The proposed project also includes 37 parking spaces located in the basement, ground level and second level. The Architects Collective full concept design package is available upon request. The Downtown Long Beach Business District provides unique destinations, both historic and new, that attract over six million visitors annually. One of the citys most revered attractions, The Queen Mary, arrived in Long Beach in 1967 and has since impressed millions of visitors with its art deco interiors and glimpses into a bygone era. The Aquarium of the Pacific, on the other hand, provides an intimate look into the future of marine biology and sustainability. Hotels, restaurants and other tourist oriented venues including Shoreline Village, The Pike and Rainbow Harbor Waterfront surround the juggernaut that is the Long Beach Convention and Entertainment Center that brings in a staggering 1.6 million visitors per year with its year-round conventions and events.