$1,149,000

RESIDENTIAL DEVELOPMENT OPPORTUNITY 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. 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. Each lot is currently zoned R1N but the City of Long Beach may be amenable to a proposal to develop additional dwellings. The parcel is located in an area currently used for oil production, yet many homes in the area were added in the 90's. Lot 6 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 parcel is located close to the burgeoning Long Beach Memorial Hospital campus, a Salvation Army complex and has nearby public transport, retail and freeway access. The land has been owned by the family more than five decades and offers a unique moment for residential development in a largely built out city.