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Russell Johnson

937 Pine Avenue
Long Beach, CA 90813

Land Lot
Acre Lot
Listing Agent: Adam Peterson - CB Richard Ellis, Inc.;
Home> California> Long Beach> 90813
140-Unit Development Site in Prime Long Beach, Entitled at COE. Available for sale or joint venture, the offering consists of a forthcoming entitlement for a140-unit multifamily project on .516 acres of land situated on the corner of Pine Ave. and 10th St. Located just north of Downtown Long Beach and around the corner from the Pacific Ave. Blue Line light rail, the three-parcel site is subject to attractive high density zoning ideal for multifamily development. 937-947 Pine Ave. offers an incredible, walkable amenity base and transit connectivity. Ownership is in the process of obtaining an entitlement for a140-unit, woodframe over concrete podium, 8-story, at-grade apartment project with 15 restricted affordable units and approximately 2000 square feet of ground floor retail/amenity space. New construction apartments in Downtown Long Beach and the surrounding area achieve rents surpassing $4 per square foot, well above the submarket and County averages. As part of a state-mandated housing planning process to relieve the current housing shortage, the city of Long Beach is tasked with adding over 26,000 new homes to its housing stock by 2029. Housing permits have decreased significantly since over 1000 units were permitted in 2021 suggesting a lack of new supply once 937-947 Pine is expected to deliver.
Land Lot - Land, Other
Los Angeles
0.5165 Acres
The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

Walk Score

Transit Score

Bike Score

Listing Agent: Adam Peterson - CB Richard Ellis, Inc.;
Licensed in: DRE# 01815802
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