Sold

2035 Pacific Avenue

Long Beach CA, 90806

$575,000


$161.52 per sqft

Sold

3,560 sqft

Commercial

Built in 1948

Live/work and medical/dental conversion allowed per the City of Long Beach. We are please to present this vacant in-fill retail building on the highly trafficked Pacific Avenue retail corridor in Long Beach's famed South Wrigley shopping corridor. The property is located just blocks from the Northgate Market, The Wrigley Tavern, Happy Thai, Wicked Wolf Long Beach, Gaucho Beach Cafe and Gabriel's Burgers. This fully vacant building is also offered for lease at $1.19 per square foot, modified gross, making this a pro forma 9.4% cap rate upon stabilization. The building has been renovated and includes a roof replacement, clean interiors, HVAC systems, four car parking in the rear, a door in the rear, high ceilings, 40' of frontage on Pacific Ave, a 600 AMP electrical panel that is not currently connected, fresh paint, and a clean interior. Flexible LBCNP zoning allows for several uses including live-work lofts, restaurants and professional offices. This is perfect for an owner-user wanting to take advantage of SBA or other commercial financing opportunities, or an investor wanting to collect a 9.4% stabilized cap rate return upon completion of building lease-up.

CL24354181

MLS ID

February 2, 2024

Listed

December 13, 2024

Updated

Map

2035 Pacific Avenue
Long Beach CA, 90806

Interior Features

Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.11 Acres

Other Property Details

Area Name

Long Beach


Garage

No


Parking Total

4


View

No


County

Los Angeles


Pool

No


Zoning

LBCN

Listing History

Date

Event

Price

11/19/2024

Sold

$575,000

10/25/2024

Pending

9/18/2024

Price change

$595,000

-1%

9/3/2024

Price change

$599,000

-21%

8/15/2024

Price change

$750,000

15%

7/29/2024

Price change

$649,000

5%

7/25/2024

Price change

$615,880

-6%

6/24/2024

Active

6/24/2024

Price change

$649,000

-7%

6/11/2024

Pending

4/16/2024

Price change

$697,000

-7%

3/25/2024

Price change

$749,000

-6%

2/10/2024

Price change

$795,000

-10%

2/9/2024

Price change

$795,000

-10%

Listed by Oron Maher with Maher Commercial Realty
Listing Contact: 310-464-1453 

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