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.
Property Details
Property Features
Listing Office:
Office Name: CB Richard Ellis, Inc.
Listing Agent: Adam Peterson
Exterior Features
Exterior Information:
View: Bay, Bridge(s), City Lights, Other, Harbor
Lot Features
Lot Information:
Lot: Level
Lot Size: 0.52 Acres
Other
Directions Information:
Directions: Southwest corner of Pine Ave. & W. 10th St.
Price Information
Listing Price Info
Price Summary:
List Price: $7,200,000
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Housing Market Comparison
See how this home compares to others in Long Beach, CA.
This property is $6.4M more than the Median Sold Price in Long Beach, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24373895
Listing Office:
Office Name: CB Richard Ellis, Inc.
Listing Agent: Adam Peterson
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/28/2024, 4:25:19 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
International Elementary School
700 Locust Ave
Distance between this listing and this school0.24 miles
Public District Grades KG-5
5
/10
Edison Elementary School
625 Maine Ave
Distance between this listing and this school0.55 miles
Public District Grades KG-5
4
/10
Stevenson Elementary School
515 Lime Ave
Distance between this listing and this school0.59 miles
Public District Grades KG-5
Nearby Schools
3
/10
Washington Middle School
1450 Cedar Ave
Distance between this listing and this school0.46 miles
Public District Grades 6-8
6
/10
Franklin Classical Middle School
540 Cerritos Ave
Distance between this listing and this school0.91 miles
Public District Grades 6-8
4
/10
Jessie Nelson Academy
1951 Cherry Ave
Distance between this listing and this school1.69 miles
Public District Grades 6-8
Nearby Schools
4
/10
Renaissance High School For The Arts
235 E 8th St
Distance between this listing and this school0.17 miles
Public Magnet Grades 9-12
5
/10
Polytechnic High School
1600 Atlantic Ave
Distance between this listing and this school0.75 miles
Public Magnet Grades 9-12
2
/10
Cabrillo High School
2001 Santa Fe Ave
Distance between this listing and this school1.72 miles
The neighbors living near this home have an average income of $32,321. Most Long Beach, CA residents have annual incomes less than $35k. Residents typically live in single, no kids family. Typical level of education for residents in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 937 Pine Ave
What is the listing price of this property?
The listing price of 937 Pine Ave property is $7,200,000.
What type of property is this?
The property 937 Pine Ave is land located in Long Beach, California, 90813.
Is this property for sale now?
Active Listing: 937 Pine Ave is For Sale (Active/New) which means the seller is accepting offers.
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This home is located at 937 Pine Ave in Long Beach, CA and zip code 90813 in the The Harbor neighborhood. This home sits on a 0.52 acre lot. It has been listed on Rocket Homes since March 28, 2024 and is currently priced at $7,200,000.
In March 2024 more than 76 listings in Long Beach, CA were sold above the asking price. During the same period more than 39 listings were sold at asking price, while more than 59 were sold below. Between February 2024 and March 2024, Long Beach, CA real estate market has seen increase in the number of listings by 1.8%. Listings spent 31 days on the market in March 2024, and had a median list price of $790,000 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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