Solve all of your personal parking issues for only $3.5 million [Muni lot for sale]

All your personal parking issues in Long Beach can be solved for a measly $3.5 million. Just buy your very own parking lot [LINK: MLS# 2771679]. Yep, the municipal lot on the corner of Shore Road and Monroe Blvd is up for sale.

“Attention All Builders/Developers. Choice Corner Property Available For Development…. Convert Existing Parking Lot Into Residential Multi Family Project. [LINK]

2771679(Thank you Frank for the link)

8 Replies to “Solve all of your personal parking issues for only $3.5 million [Muni lot for sale]”

  1. The Long Beach Hotel should purchase or rent this lot. It drives me crazy when they have a function and their valet company has a kid stand in open parking spots and saves it for the other kid parking the car. Luckily its never happened to a spot I was trying to take or I would probably have been arrested for assault.

  2. I’m sure the owner of the Long Beach Hotel will have no problem paying the $3,500,000 with what his place brings in. And the $412,000 per year in taxes will be a mere drop in the bucket too.

  3. The listing advertises it as a property for the development of a “Residential Multi Family Project.” Which obviously makes sense. Let’s get ride of parking to build more condos.

  4. It is not owned by the city. The city rented it for an absurd price, yet only charged $10/year for a parking pass. It really was a poor financial decision at the time….. Especially since they did ALL the sewer and blacktop work on top of the rent they paid for the lot…

  5. There’s hardly an apartment building or multi-family lot in Long Beach that is not for sale. At least five buildings with more than 100 families each have changed hands and almost every other one is on the market.

    Investors want out. Rental properties are being taxed to death, young folks simply aren’t making the salaries to afford the rents and the City has taken the road to subsidizing and inviting “affordable” Section 8 housing. No reputable landlord with his own money at risk can operate in a Section 8 neighborhood like Long Beach is becoming.

    Lots of changes on their way, especially in the rental market.

  6. I believe it was Theofan. and the city council at the time. Poor financial decisions are exclusive to BOTH political parties. It is amazing the poor financial decisions people make when they are playing with taxpayers money….

  7. Oh wait they are paying their taxes? I thought they got the same deal as the Alegria, run a business and don’t pay taxes, just give us free rooms.

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