1160 Locust N

    Long Beach, CA 90813
    • $699,900
    • STATUS: Active Under Contract
    • ON SITE: 287 days
    • ID#: OC18074017
    Under Contract
    UPDATED: 20 min ago
    $699,900
    • 5
      BEDS
    • 0.11
      ACRES
    • 1
      BATHS
    • 1
      1/2 BATHS
    • 1,850
      SQFT
    • $378
      $/SQFT
    Neighborhood:
    Type:
    Single-Family Home
    Built:
    1910
    County:

    School Ratings & Info

    School District:

    Description

    PROPERTY IN NMTC ZONE (NEW MARKETS TAX CREDIT ZONE). **INVESTORS** DEFER TAXES ON CAPITAL GAINS BY INVESTING IN A QUALIFYING ASSET. Multi-Family with 20% Commercial Use helps reduce the tax basis of your investment up to 7 years and potentially can improve the Parking Ratio to less than 1 space per unit. Do not miss this opportunity to acquire the perfect CORNER LOT featuring ZERO SETBACKS and the ability to build a MUTLI-STORY, MULTI-FAMILY OR COMMERCIAL/OFFICE USE BUILDING UP TO 150 FT IN HEIGHT. This area is adjacent to Pine St. and has a number of EXCELLENT CONSUMER MEDICAL AND RETAIL ANCHORS in the immediate area. HEAVY CONSUMER DEMAND IN THIS AREA FOR HOUSING makes this the perfect lot to develop. LOT IS ZONED PD-29 (SUBAREA 5) and is close walking distance to the Blue Line and Downtown Long Beach. Current property on the lot is a single family residence featuring 5 bedrooms and a loft space WITH AN ENORMOUS AREA FOR PARKING - 8 SPACES POSSIBLE. Owners originally purchased to develop themselves and had received preliminary approvals for developing the lot. This property also has excellent Income Producing Potential. Call today for a free Investment Profile including the City of Long Beach Planned Development Criteria for the area.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-01-15T20:34:54.44. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.homefinderorangecounty.com/homes/82203407

    1160 Locust N Long Beach, CA 90813

    • Price: $699,900
    • Status: Active Under Contract
    • Updated: 20 min ago
    • ID#: OC18074017
    5
    Beds
    1
    Baths
    1
    ½ Baths
    0.11
    Acres
    1,850
    SQFT
    $378
    $/SQFT
    1910
    Built
    Neighborhood:
    Willmore District (Wm)
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    School District:
    Long Beach Unified
    Property Description
    PROPERTY IN NMTC ZONE (NEW MARKETS TAX CREDIT ZONE). **INVESTORS** DEFER TAXES ON CAPITAL GAINS BY INVESTING IN A QUALIFYING ASSET. Multi-Family with 20% Commercial Use helps reduce the tax basis of your investment up to 7 years and potentially can improve the Parking Ratio to less than 1 space per unit. Do not miss this opportunity to acquire the perfect CORNER LOT featuring ZERO SETBACKS and the ability to build a MUTLI-STORY, MULTI-FAMILY OR COMMERCIAL/OFFICE USE BUILDING UP TO 150 FT IN HEIGHT. This area is adjacent to Pine St. and has a number of EXCELLENT CONSUMER MEDICAL AND RETAIL ANCHORS in the immediate area. HEAVY CONSUMER DEMAND IN THIS AREA FOR HOUSING makes this the perfect lot to develop. LOT IS ZONED PD-29 (SUBAREA 5) and is close walking distance to the Blue Line and Downtown Long Beach. Current property on the lot is a single family residence featuring 5 bedrooms and a loft space WITH AN ENORMOUS AREA FOR PARKING - 8 SPACES POSSIBLE. Owners originally purchased to develop themselves and had received preliminary approvals for developing the lot. This property also has excellent Income Producing Potential. Call today for a free Investment Profile including the City of Long Beach Planned Development Criteria for the area.
    Exterior Features

    Architectural Style Craftsman Foundation Details Raised Garage Spaces 0.00 Lot Features Corner LotLevel With StreetNear Public Transit Lot Size Source Assessor Lot Size Units Square Feet Other Structures Storage Parking Features Driveway - ConcreteSide By SideTandem Uncovered Parking Total 0.00 Parking YN Yes Patio And Porch Features Porch - Front Patio YN Yes Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street View Neighborhood View YN Yes

    Interior Features

    Bathrooms Full 1 Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features Living Room Fireplace YN Yes Laundry Features Gas & Electric Dryer Hookup Levels Two Main Level Bathrooms 2 Main Level Bedrooms 4 Room Type LoftMain Floor Master Bedroom

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Community Features Urban Country Us Elevation Units Feet Exclusions Seller's Personal Property Land Lease YN No Laundry YN Yes Lease Considered YN No Living Area Units Square Feet New Construction YN No Property Condition Repairs CosmeticUpdated/Remodeled Property Sub Type Commercial/Residential Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Willmore District (Wm) Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Water Source Public Year Built Source Assessor

    Listing provided courtesy of Serena Goss of Homesmart, Evergreen Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-01-15T20:34:54.44. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Z Team OC Real Estate
    27101 Puerta Real #150
    Mission Viejo CA, 92691