495 The Promenade, Long Beach, CA 90802

About this property

495 The Promenade North, is a brand-new 2022 construction mixed-use building with 20-units and 5,621 SF of retail in the heart of prime Downtown Long Beach. 495 The Promenade North provides an investor the rare opportunity to acquire a thoughtfully designed asset with quality construction and exquisite design features. Property features a strong unit mix of spacious and beautifully designed units including (4) one-bedroom, one-bath units, (15) two-bedroom, two-bath units, and (1) three-bedroom, three-bath townhome style unit with two separate entrances. Unit interiors feature open floor plans, high ceilings, in-unit washer and dryers, central air conditioning, recessed lighting, balconies, floor to ceiling windows in some units, and more. All units include luxury finishes, stainless steel appliances, beautifully designed kitchens and bathrooms, European kitchen cabinets, stone countertops and tile backsplashes, hardwood flooring throughout, recessed lighting, and walk-in closets with custom built-ins. The building totals 35,429 SF of improvements on a 12,801 SF lot.Situated in the heart the highly desirable Downtown Long Beach, 495 The Promenade North is ideally positioned in one of the most walkable areas of SoCal. The Property is surrounded by countless amenities including an array of restaurants, shops, trendy bars, hotels, beaches, and cultural and entertainment venues. The Property is minutes to notable destinations including the Long Beach Convention and Entertainment Center, Shoreline Village, Aquarium of the Pacific, The Pike and Rainbow Harbor Waterfront, The Marina, and the Promenade. Other notable locations include The Port of Los Angeles, The Queen Mary, Pine Street, and the charming coastal neighborhood of Alamitos Beach. Additionally, the Property is surrounded by major employers and has convenient access to transportation and the 710 and 405 Freeways. Downtown Long Beach is the known as city's economic center and a waterfront metropolis, where residents are able to live, work, and play. 495 The Promenade North is situated in a highly sought after market and is surrounded by countless nearby amenities and developments that continue to transform the city's landscape. This is a perfect opportunity for an investor looking to acquire a newly-constructed, luxury building with strong cash-flow, excellent visibility, strong market fundamentals and upward trending demographics. 495 The Promenade North is poised to offer an investor long-term returns and appreciation.

Listing description from the December 2023 sale, as reported to CRMLS.

Sale history

$10,900,000

Sold December 2023 · listed $11,495,000, on market October 2023 · MLS #23322085 · Source: CRMLS

Listing Agent: Janet Neman · Listing Office: Kidder Mathews of California, Inc. · Contact: 858-369-3010 · Bought with: Jonathan Swire · The Agency

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