Owner User/ Add Value Downtown Long Beach

Description:

219 East Broadway is an approximately 5,200 square foot vacant building on approximately 3,636 square feet of land. The ground floor is approximately 3,600 square feet and the mezzanine (2nd Floor) is approximately 1,600 square feet. The property is reinforced brick. The subject property is on a soft corner of Broadway and North Waite Court with off street public parking in various parking garages in Downtown Long Beach. There are approximately 8 different public parking garages in a 1 block from the subject property. The property is located a 1/2 bock East of The Promenade of Downtown Long Beach, a major destination hub of Long Beach, California and Los Angeles County. The subject property will allow an Owner User to occupy the whole building or a portion (Buyer to verify) and lease out the rest or an Investor can add-value through lease up of the vacant space to one (1) or more tenants (Buyer to verify).


The subject property is on a soft corner of Broadway and North Waite Court with off street public parking in various parking garages in Downtown Long Beach. There are approximately 8 different public parking garages in a 1 block radius from the subject property. The property is located a 1/2 bock East of The Promenade of Downtown Long Beach, a major destination hub of Long Beach, California and Los Angeles County. E. Broadway is a 2 lane, one way street. Traffic flows West to East. Traffic count on E Broadway is 10,515 AADT (AlphaMaps 2022) The Promenade North has a foot traffic count of approximately 346,322 annual (AlphaMaps 2024)


219 East Broadway is an approximately 5,200 square foot vacant building on approximately 3,636 square feet of land. The ground floor is approximately 3,600 square feet and the mezzanine (2nd Floor) is approximately 1,600 square feet. The property is reinforced brick. The property is located in an Opportunity Zone. Opportunity Zones offer tax incentives for investors who reinvest capital gains into real estate projects within designated low-income areas. Benefits include deferred and reduced capital gains taxes, and if held for 10+ years, profits from the investment can be tax-free. The roof was redone ~ February 2015. The electrical was upgraded ~ 2016-2017 The plumbing was upgraded to copper ~ 2017-2018