Brick+Work

Long Beach 300+ Unit Potential

Long Beach 300+ Unit Potential

APN:

$

$
Downtown Plan
Zone/District
344
Max Unit
22,500 sq. ft.
Lot Size
No
TOC
4
Lots
Existing Conditions
Floor Area 10,705 sq. ft. (combined)
Units 8 (combined)
Year Constructed Several
Assessed Improvement Value $275,264 (combined)
Assessed Land Value $331,570 (combined)
Development Potential (By-Right)
Maximum FAR 8:1
Maximum Height
Feet

240 ft.

Stories

None

Minimum Setbacks
Front

6 ft.

Along Olive Ave.

Side

0 ft.

10 ft. from alley centerline; 5 ft. minimum for residential uses on ground floor

Back

0 ft.

10 ft. from alley centerline; 5 ft. minimum for residential uses on ground floor

Max Buildable Area, Footprint 21,600 sq. ft.
Max Buildable Area, Envelope 180,000 sq. ft.
Max Dwelling Units 255
Affordable Units Required None
Parking Required 1 space per unit plus 1 guest space per 4 units; plus commercial parking
Required Bicycle Parking
Long Term 1 space per 5 units; plus commercial parking
Short Term
Transitional Height Limitations None
Required Open Space 15% of lot area
Other Development Notes Max Units based on 85% Max Buildable envelope divided by 600 sq. ft. minimum unit size
Development Potential (with TOC or DB)
Maximum FAR 10.8:1
Maximum Height
Feet

500 ft.

with utilization of Green Building and/or Open Space Incentives

Stories

None

Minimum Setbacks
Front

6 ft.

Side

0 ft.

10 ft. from alley centerline; 5 ft. minimum for residential uses on ground floor

Back

0 ft.

10 ft. from alley centerline; 5 ft. minimum for residential uses on ground floor

Max Buildable Area, Footprint 21,600 sq. ft.
Max Buildable Area, Envelope 243,000 sq. ft.
Max Dwelling Units 344
Affordable Units Required 11% for VL income; 20% for low income; or 40% moderate income units
Parking Required 1 space per unit plus 1 guest space per 4 units; plus commercial parking
Required Bicycle Parking
Long Term 1 space per 5 units; plus commercial parking
Short Term
Transitional Height Limitations None
Required Open Space 15% of lot area
Other Development Notes Max Units based on 85% Max Buildable envelope divided by 600 sq. ft. minimum unit size
Jurisdictional
Legal Description Lots 23-28, Block 95, Long Beach N Tract
Land Use N/A
Area Planning Commission N/A
Community Plan Area N/A
Neighborhood Council N/A
Council District N/A
Councilmember N/A
Red Flags
Property is subject to the requirements of the Long Beach Downtown Plan, which could limit the development potential of the site.
Project is within a State of California Opportunity Zone, which could allow for tax incentives for a redevelopment project on this site.
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Particulars By-Right TOC or DB
Total Buildable
Net Buildable
Average Construction Cost
Total Construction Budget
Total Soft Costs
Total Development Budget
Gross Annual Rents
Expenses (25%)
NOI
Valuation
Equity After Completion
Equity Multiple
IRR

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