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3040 Pasadena Avenue, Long Beach, CA 90807

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For Sale

$995,000

Estimated Payment

$      /mo. †

APR for 30 years

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Explore this Property

FOUR R1 LOTS This is a parcel of four contiguous lots on Pasadena Avenue, (lots 4,5,6 and 7), each 50' wide x 130' deep; giving a total area of 26,000 sq ft. The parcel is located close to the burgeoning Long Beach Memorial Hospital campus, a Salvation Army sporting complex and has nearby public transport, retail and freeway access. Each lot is currently zoned R1N but the City of Long Beach may be amenable to a proposal to develop additional dwellings. While located in an area currently used for oil production, many homes in the area were built in 2000'. One lot contains an abandoned oil well which ceased operation in the 70s and was certified as abandoned in 2000. A recent methane test showed zero emission, and a prescribed barrier installed. Documentation is available to prospective buyers. The land has been owned by the family more than six decades and offers a unique moment for residential development in a largely built out city. A recent survey identified an easement twenty feet in width for a future alley, which may be available as an additional 1000 sq ft to each lot.
MLS# PW24237327

Courtesy Of Coldwell Banker Coastal Alliance

(562) 494-4600

Property Features

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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