Downtown Long Beach's Qualified Opportunity Zone covers a wide swath of the submarket, and right now that overlay includes active listings across every major property type — office, retail, multifamily, and land. Below is a rundown by category.
782 Pacific Ave — 3,368 SF on a ±8,001 SF corner lot at Pacific Ave and 8th St, priced at $1,800,000 ($534.44/SF). Renovated in 2012, PD-30 zoning, eight surface parking spaces. Move-in ready for an owner-user; ownership would also consider a leaseback for a buyer planning future redevelopment.
425 E 4th St (East Village Creative Offices) — 5,312 SF loft-style office condo in the Arts District, priced at $2,295,000 ($432.04/SF). Eight private office suites, conference room, and open collaboration space. Currently under contract.
604 & 650 Pine Ave Portfolio — Two-building, 209,441 SF office campus (Press Telegram Building and Meeker-Baker Bldg), 100% NNN leased to Molina Healthcare through December 2029 with 3.4% annual rent increases. Price not disclosed; offered free and clear of existing financing.
727-743 Pine Ave (Bungalow Building) — 13,600 SF multi-tenant retail building on the Pine Avenue corridor, priced at $3,495,000 ($256.99/SF) with a projected 7.20% stabilized cap rate. Two vacant suites offer immediate lease-up potential; existing rents are below market.
127 W 7th St — 2,500 SF retail building priced at $1,099,000 ($439.60/SF), 5.46% cap rate on $60,005 NOI. Occupied by a dog daycare tenant with roughly three years remaining plus a five-year option. Zoned LBPD30. The daycare business is also available for sale separately.
456 Elm Ave — 25,129 SF former ghost-kitchen facility (Partake Collective) with eight private commercial kitchens and shared communal kitchen space. Price not disclosed; value-add investment type.
702 Cedar Ave — 2,557 SF mixed-use building priced at $899,000 ($351.58/SF), fully occupied with NNN leases to a retail tenant on the ground floor and a residential unit above.
635 Elm Ave — 10-unit portfolio sale (individually owned units within a 21-unit building), 11,928 SF, priced at $2,450,000, 5.00% cap rate, 1031 exchange sale conditions. Fully remodeled units in the East Arts Village.
939 Pacific Ave — 13-unit apartment complex, 7,836 SF, priced at $2,730,000, 6.40% cap rate. Fully renovated 1-bedroom units, Walk Score of 93.
833 Cedar Ave — 8-unit Craftsman-style property, 6,494 SF, priced at $1,850,000, 9.00% cap rate. Zoned LBPD10 with density upside.
328 W 8th St — 8-unit studio building, 3,714 SF, priced at $1,399,000, 6.29% cap rate. No local rent control; heavily updated units.
740-746 Daisy Ave — 8-unit bungalow-style property, 3,440 SF, priced at $1,445,000, 7.07% cap rate. Located on the westside near the 710 Freeway.
528 Daisy Ave — 7-unit property, 4,944 SF, priced at $1,895,000, 6.00% cap rate. Recently renovated including a newly added 3-bedroom unit.
508 W 10th St — 4-unit property, 3,276 SF, priced at $1,145,000, 8.87% cap rate. Currently vacant, offering lease-up upside for a new owner.
434 W 9th St — 8-unit property, 4,302 SF, priced at $1,500,000, 6.44% cap rate. Mix of townhouse, one-bedroom, and studio units.
917 Pine Ave — 7,405 SF (0.17 acre) parcel with an existing medical/office building, priced at $1,350,000 ($182.30/SF). Zoned PD-30, positioned for high-density mixed-use redevelopment; the adjacent parcel is slated for 50+ residential units.
Market data sourced from CoStar Group, licensed to Lee & Associates.
Considering a sale, acquisition, or repositioning in Downtown Long Beach? Get a broker opinion of value on your property: Request a Property Valuation
What is a Qualified Opportunity Zone?
A Qualified Opportunity Zone is a designated census tract where investors can defer and potentially reduce capital gains tax by reinvesting through a Qualified Opportunity Fund. Rules and eligibility vary by investor and transaction, so consult a tax advisor before relying on OZ status for investment decisions.
Why does Downtown Long Beach have so many Opportunity Zone listings right now?
The Opportunity Zone overlay covers most of Downtown Long Beach's core, and the submarket is seeing active turnover across office, retail, multifamily, and land as owners reposition assets amid ongoing redevelopment activity in the area.
Are these cap rates guaranteed?
No. Cap rates and NOI figures shown are based on current or pro forma performance as marketed by each listing broker and should be independently verified before making an investment decision.
Can I get a valuation on my own Downtown Long Beach property?
Yes. A broker opinion of value can help you understand current pricing for a property you own. Note that a BOV is a market estimate, not a formal appraisal — if you need documentation for refinance underwriting, a licensed appraiser is required for that purpose.
We specialize in industrial real estate from the greater Los Angeles to the Inland Empire markets, including: Long Beach, Carson, Torrance, Gardena, Compton, Rancho Dominguez, Wilmington, Paramount, Santa Fe Springs, Huntington Beach, Garden Grove, Irwindale, Signal Hill, Pomona, City of Industry, and Ontario, serving surrounding submarkets including LA South Bay, LA Central, Mid-Counties, San Gabriel Valley, Orange County and the Inland Empire
.Ron Mgrublian
Principal, Lee & Associates Los Angeles – Long Beach
562-354-2537
CalDRE# 01902882
