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Midtown Long Beach Corner Lot, 40+ Units

Midtown Long Beach Corner Lot, 40+ Units

APN:

$

Midtown Specific Plan - Transit Node High
Zone/District
56
Max Unit
17,020
Lot Size
No
TOC
2
Lots
Existing Conditions
Floor Area 0 sq. ft.
Units 0
Year Constructed N/A
Assessed Improvement Value $0 (combined)
Assessed Land Value $703,800 (combined)
Development Potential (By-Right)
Maximum FAR 2:1
Maximum Height
Feet

50 ft.

Stories

4

Buildings used entirely for residential uses (and ground floor commercial in RAS zones) are only limited in height, not stories.

Minimum Setbacks
Front

0 ft.

8 ft. required setback for ground floor residential

Side

5 ft.

No setback required for commercial or residential above ground floor commercial

Back

5 ft.

No setback required for commercial or residential above ground floor commercial

Max Buildable Area, Footprint 15,015 sq. ft.
Max Buildable Area, Envelope 30,030 sq. ft.
Max Dwelling Units 42
Affordable Units Required None
Parking Required 1 space per unit with 0-1 bedrooms 1.25 spaces per unit with 2 or more bedrooms 1 guest space per 4 units
Required Bicycle Parking
Long Term 1 enclosed locker for every 50 units
Short Term 1 space per 2 units
Transitional Height Limitations
Required Open Space 50 sq. ft. per unit plus 10% commercial floor area for mixed use
Other Development Notes Max units based on 85% max buildable area divided by 600 sq. ft. minimum unit size
Development Potential (with TOC or DB)
Maximum FAR 2:1
Maximum Height
Feet

50 ft.

Projects located in a zone where the maximum height is 45 ft. or less, or located within a Specific Plan that limits height, height increases over 11 ft. must be stepped-back at least 15 ft. from the exterior face of the ground floor building located at any street frontage.

Stories

4

Minimum Setbacks
Front

0 ft.

8 ft. required setback for ground floor residential

Side

5 ft.

No setback required for commercial or residential above ground floor commercial

Back

5 ft.

No setback required for commercial or residential above ground floor commercial

Max Buildable Area, Footprint 15,015 sq. ft.
Max Buildable Area, Envelope 30,030 sq. ft.
Max Dwelling Units 56
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 unit with 0-1 bedrooms, 1.25 spaces per unit with 2 or more bedrooms; 1 guest space per 4 units
Required Bicycle Parking
Long Term 1 enclosed locker for every 50 units
Short Term 1 space per 2 units
Transitional Height Limitations None
Required Open Space 50 sq. ft. per unit, plus 10% commercial floor area for mixed use
Other Development Notes Max units based on 85% max buildable area divided by 600 sq. ft. minimum unit size with added 35% Density Bonus
Jurisdictional
Legal Description Lots 51, 53 & 55, Block B, Clague Tract
Land Use General Commercial
Area Planning Commission N/A
Community Plan Area N/A
Neighborhood Council N/A
Council District N/A
Councilmember N/A
Restrictions
Rent Stabilization Ordinance N/A
Community Design Overlay N/A
Historic Preservation Overlay N/A
Specific Plan Yes
Q/T Conditions N/A
D Limitations N/A
Coastal Zone No
Community Redevelopment Agency N/A
Hillside Area N/A
Baseline Mansionization Ordinance N/A
Interim Control Ordinance N/A
River Improvement Overlay N/A
Community Plan Implementation Overlay N/A
Opportunity Zone Yes
Other
Red Flags
Property is subject to the requirements of the City of Long Beach Midtown Specific Plan.
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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