3061 Long Beach Blvd
Long Beach, CA 90807 Wrigley

For investors seeking immediate cash flow during the entitlement and permitting process, the property is currently occupied by a cooperative month-to-month tenant who covers all day-to-day operational responsibilities. This provides a steady interim revenue stream with no maintenance burden to the owner.



Investment Highlights:

• Recent Price Reduction: Aggressively priced at $749,900 (down from $799,000) for a swift transaction with highly motivated sellers.

• Prime Corner Location: Situated directly on a designated transit corridor with rapid freeway access.

• Advanced Entitlement Status: Conditionally approved plans feature modern 3-story architecture, elevator access, in-unit laundry, and a rooftop community deck.

• Immediate Holding Income: Existing tenancy provides ongoing revenue that helps offset carrying costs while development steps are finalized. Tenant manages all daily operational needs.

• Assemblage Potential: Adjacent ownership controls adjacent parcels, offering a significant future expansion footprint.

• Environmental Status: Initial environmental studies have been completed and submitted. The Regional Waterboard has requested a final round of on-site and off-site drilling to conclude site characterization, with remaining costs estimated at $40,000–$50,000. Sellers will deliver all existing documentation.