Brick+Work

Midtown Long Beach 30+ Units

Midtown Long Beach 30+ Units

APN:

$ 3.7M

33
Max Unit
12,200 sq. ft.
Lot Size
No
TOC
3
Lots
Existing Conditions
Floor Area 13,944 sq. ft.
Units 16
Year Constructed 1963
Assessed Improvement Value $971,831
Assessed Land Value $539,905
Development Potential (By-Right)
Maximum FAR 1.5:1
Maximum Height
Feet

36 ft.

14 ft. minimum ground floor height

Stories

3

Minimum Setbacks
Front

6 ft.

8 ft. required setback for ground floor residential

Side

5 ft.

No setback required for commercial or residential above ground floor commercial

Back

10 ft.

Measured from alley centerline

Max Buildable Area, Footprint 9,540 sq. ft.
Max Buildable Area, Envelope 14,310 sq. ft.
Max Dwelling Units 23
Affordable Units Required None
Parking Required 1 space per unit with 0-1 bedrooms 1.25 spaces per unit with 2 bedrooms 1.5 spaces per unit with 3 or more bedrooms 1 guest space per 4 units
Required Bicycle Parking
Long Term 1 space per 2 units
Short Term 1 enclosed locker per 50 units
Transitional Height Limitations None
Required Open Space 50 sq. ft. per unit plus 10% of non-residential floor area for mixed use
Other Development Notes Max Units calculated by taking Max Buildable Envelope divided by minimum unit size of 600 sq. ft.
Development Potential (with TOC or DB)
Maximum FAR 1.5:1
Maximum Height
Feet

36 ft.

14 ft. minimum ground floor height

Stories

3

Minimum Setbacks
Front

6 ft.

8 ft. required setback for ground floor residential

Side

5 ft.

No setback required for commercial or residential above ground floor commercial

Back

10 ft.

Measured from alley centerline

Max Buildable Area, Footprint 9,540 sq. ft.
Max Buildable Area, Envelope 14,310 sq. ft.
Max Dwelling Units 33
Affordable Units Required at least 11% for Very Low Income residents, or 20% for Low Income residents, or 30% Moderate Income residents (for sale)
Parking Required 1 space per units with 0-1 bedrooms; 2 spaces per unit with 2-3 bedrooms; 2.5 spaces unit with 4 or more bedrooms
Required Bicycle Parking
Long Term 1 space per 2 units
Short Term 1 enclosed locker per 50 units
Transitional Height Limitations None
Required Open Space Up to 20% decrease in open space required by-right.
Other Development Notes Max Units calculated by taking Max Buildable Envelope divided by minimum unit size of 600 sq. ft., plus 35% density bonus.
Jurisdictional
Legal Description Lots 25,27, & 29, Block 1, Hawkeye 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 Midtown Specific Plan, which could limit the development potential of the 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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