Listed by Sheva Hosseinzadeh, Coldwell Banker Commercial, (562) 400-5949
$3,995,000
Studio
42,321 sqft (on 0.40 acres)
601 Pine Ave, Long Beach, CA 90802
Est. Mortgage $25,740/mo*
Get Pre-QualifiedHome Highlights
Single-Family Home
Built in 1926
0.4 acre lot
$94/sqft
Local Information
- Map ViewExplore the area around 601 Pine Ave.
- Schools1 Elementary School1 Middle School1 High School
- Shop & Eat
-- mins to
About this House
What's unique:Flexible multi-level layout
601 Pine Avenue presents a rare value-add opportunity to acquire a substantial historic commercial property in the heart of Downtown Long Beach at an exceptionally low basis of $3,995,000, or approximately $95 per SF. The property consists of an approximately 42,321 SF freestanding commercial building situated on approximately 17,502 SF of land and was formerly occupied by Rite Aid. The building offers a flexible multi-level layout suitable for retail, storage, showroom, fitness, office, creative, or other commercial uses, subject to applicable approvals, and presents multiple potential strategies for an owner-user, investor, or developer.
Based on current preliminary assumptions, the existing building could potentially be stabilized as retail/storage at an estimated ~12.5% cap rate, creating a rare value-add opportunity at the current basis.
As an alternative strategy, preliminary adaptive-reuse plans have been prepared for a 63-unit residential and retail mixed-use project. The concept includes converting approximately half of the ground floor, completing the mezzanine to create an additional residential level, and converting the second and third floors to accommodate approximately 63 residential units, consisting of 55 market-rate units and 8 affordable units, while retaining ground-floor retail. Based on current projections, the adaptive-reuse concept is estimated to achieve an approximately ~13.5% pro forma cap rate on total project cost, with approximately $6.0 million in estimated construction costs, approximately $8.5 million in projected developer profit, and an estimated ~87% return on total project cost.
The property may also be purchased with the neighboring 127 W 6th Street development site for an additional $995,000, providing additional parking and significant future development potential. The approximately 7,500 SF PD-30 site benefits from unlimited residential density and supports approximately 100 residential units under the base zoning framework, while a separate, more construction-efficient concept has been prepared for a seven-story, 45-unit mixed-use development consisting of 36 primary apartments plus 9 proposed ADUs.
Based on current preliminary assumptions, the existing building could potentially be stabilized as retail/storage at an estimated ~12.5% cap rate, creating a rare value-add opportunity at the current basis.
As an alternative strategy, preliminary adaptive-reuse plans have been prepared for a 63-unit residential and retail mixed-use project. The concept includes converting approximately half of the ground floor, completing the mezzanine to create an additional residential level, and converting the second and third floors to accommodate approximately 63 residential units, consisting of 55 market-rate units and 8 affordable units, while retaining ground-floor retail. Based on current projections, the adaptive-reuse concept is estimated to achieve an approximately ~13.5% pro forma cap rate on total project cost, with approximately $6.0 million in estimated construction costs, approximately $8.5 million in projected developer profit, and an estimated ~87% return on total project cost.
The property may also be purchased with the neighboring 127 W 6th Street development site for an additional $995,000, providing additional parking and significant future development potential. The approximately 7,500 SF PD-30 site benefits from unlimited residential density and supports approximately 100 residential units under the base zoning framework, while a separate, more construction-efficient concept has been prepared for a seven-story, 45-unit mixed-use development consisting of 36 primary apartments plus 9 proposed ADUs.
Home Details for 601 Pine Ave
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Interior Details Number of Rooms: 1Types of Rooms: Office |
Dimensions and Layout Living Area: 42321 Square Feet |
Appliances & Utilities Laundry: None |
Heating & Cooling Has CoolingAir Conditioning: Central Air |
Fireplace & Spa Fireplace: NoneNo Fireplace |
Windows, Doors, Floors & Walls Common Walls: No Common Walls |
Levels, Entrance, & Accessibility Number of Stories: 4Levels: Multi/SplitEntry Location: 1 |
View Has a ViewView: City Lights |
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Exterior Home Features No Private Pool |
Parking & Garage No Garage |
Pool Pool: None |
Frontage Not on Waterfront |
Water & Sewer Sewer: Septic Type Unknown |
Surface & Elevation Elevation Units: Feet |
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Days on Market: 1 |
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Year Built Year Built: 1926 |
Property Type / Style Property Type: ResidentialProperty Subtype: Mixed UseStructure Type: Mixed UseArchitecture: Mixed Use |
Building Not a New ConstructionNot Attached PropertyNo Additional Parcels |
Property Information Parcel Number: 7273024018 |
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Price List Price: $3,995,000Price Per Sqft: $94 |
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MLS Status: Active |
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Direction & Address City: Long Beach |
School Information High School District: Long Beach Unified |
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Listing Agent Listing ID: PW26226565 |
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Community Features: UrbanNot Senior Community |
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Association for this Listing: California Regional MLSHOA Fee: No HOA Fee |
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Lot Area: 0.40 acres |
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Special Conditions: Standard |
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Listing Terms: Subject To Other |
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Mls Number: PW26226565Living Area Range Units: Square FeetAttribution Contact: 562-400-5949Common Interest: NoneUniversal Property Id: US-06037-N-7273024018-R-N |
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UrbanSource Internet Entire Listing Display |
Around this home
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Downtown
This October
Trick-or-Treat Score
Built from what locals say about Downtown.- 93% say there are sidewalks
- 53% say there's holiday spirit
- 49% say neighbors are friendly
Trulia Trick or TreatStart Ghost Hunt
At least 253 Trulia users voted on each feature.
94 % Say it's dog friendly
93 % Say there are sidewalks
90 % Say it's walkable to restaurants
83 % Say it's walkable to grocery stores
75 % Say streets are well-lit
59 % Say people would walk alone at night
54 % Say car is needed
53 % Say there's holiday spirit
49 % Say neighbors are friendly
43 % Say they plan to stay for at least 5 years
35 % Say there are community events
32 % Say yards are well-kept
31 % Say parking is easy
29 % Say there's wildlife
28 % Say it's quiet
27 % Say kids play outside
Sourced by Trulia users. Learn more about our methodology.
Market trends in Long Beach
Last updated September 2026
Avg. sale price
$860K
$39.5KMoM
Sale-to-List Price
100.0%
Price per sq ft
$645
$3MoM
Available listings
793
34MoM
Sourced by Trulia Market Trends
Home Value
Learn more about this home's value by checking out the value of nearby homes and how much similar homes have sold for.
Comparable sales
These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.26 | Single-Family Home | $1,005,000 | 02/24/26 | 3 | 3 | 2,006 | |
0.21 | Single-Family Home | $545,000 | 02/13/26 | 1 | 1 | 989 | |
0.31 | Single-Family Home | $1,093,000 | 11/19/25 | 2 | 2 | 2,514 | |
0.35 | Single-Family Home | $1,125,000 | 05/12/26 | 3 | 2.5 | 2,120 | |
0.32 | Single-Family Home | $1,020,000 | 06/05/26 | 4 | 2 | 2,562 | |
0.42 | Single-Family Home | $675,000 | 04/09/26 | 1 | 1 | 674 | |
0.31 | Single-Family Home | $645,000 | 12/10/25 | 2 | 1 | 804 |
Nearby home prices
Get a sense of expected prices in the area by checking the value of nearby homes.Address | Distance | Price | Bed | Bath | Sqft | Status |
|---|---|---|---|---|---|---|
0.01 | $1,733,100 | Studio | - | 5,482 | Off Market | |
0.01 | - | 1 | 1 | 600 | Off Market | |
0.01 | - | - | - | - | Off Market | |
0.01 | - | 1 | 1 | - | Off Market | |
0.01 | - | 1 | 1 | - | Off Market | |
0.01 | - | 1 | 1 | 650 | Off Market | |
0.02 | $995,000 | - | - | - | For Sale | |
0.02 | - | 2 | 1 | - | Off Market | |
0.02 | - | 2 | 2 | - | Off Market | |
0.02 | - | 1 | 1 | 390 | Off Market | |
0.02 | - | - | - | - | Off Market | |
0.02 | - | Studio | - | - | Off Market | |
0.02 | - | 1 | 1 | 648 | Off Market | |
0.02 | - | Studio | - | - | Off Market | |
0.02 | - | Studio | - | - | Off Market | |
0.02 | - | Studio | - | - | Off Market | |
0.02 | - | Studio | - | - | Off Market | |
0.02 | - | Studio | - | - | Off Market | |
0.02 | - | 1 | 1 | 648 | Off Market | |
0.02 | - | Studio | 1 | 360 | Off Market |
Price and Tax history
| Date | Event | Price |
|---|---|---|
Oct 19, 2026 Source: CRMLS #PW26226565 | Listed For Sale | $3,995,000 |
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Sheva Hosseinzadeh, Coldwell Banker Commercial
Agent Phone: (562) 400-5949
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-10-20 01:47:53 PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-10-20 01:47:53 PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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Frequently asked questions about 601 Pine Ave
- What is the estimated monthly payment for 601 Pine Ave?Based on a $3,995,000 list price with 20% down at today's rates, the estimated monthly payment for 601 Pine Ave in Long Beach, CA is approximately $26,214 (about $22,211 principal & interest, $3,928 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
- How does the list price for 601 Pine Ave compare to homes in Long Beach?601 Pine Ave in Long Beach, CA is listed at $3,995,000, about 365% above the $860K median sale price in Long Beach.
- What do residents say about the Downtown neighborhood?Residents describe the Downtown neighborhood in Long Beach, CA as dog-friendly, pedestrian-friendly, and walkable to restaurants. See homes for sale in Downtown, Long Beach.
- What are the closest schools to 601 Pine Ave?The closest schools to 601 Pine Ave in Long Beach, CA are International Elementary School (rated 5/10), Polytechnic High School (rated 7/10), Washington Middle School (rated 4/10).
- Does 601 Pine Ave have air conditioning?Yes, 601 Pine Ave in Long Beach, CA has air conditioning.
- How big is the lot at 601 Pine Ave?The lot at 601 Pine Ave in Long Beach, CA is about 0.40 acres (17,506 sq ft).