5150 Pacific Coast Highway
Property Description
Projct Summary Newmark Student Housing is presenting the unique opportunity to redevelop an existing 7-story office building located on 1.17 acres. The proposed development is a purpose-built student housing (PBSH) community comprising 123 units and 257 beds, located less than one mile from California State University, Long Beach (CSULB). Positioned at 5150 Pacific Coast Highway (PCH) at the intersection of PCH and Clark Avenue, the project is strategically designed to address the under supplied CSULB student housing market. By re-purposing the 1985-built structure into a premier student housing community, the project achieves a basis well below replacement cost in a market defined by extreme barriers to entry and a severe housing shortage. Construction is expected to begin in March 2027, with delivery targeted for Fall 2029. The redevelopment will consist of a seven-story building featuring a diverse unit mix of studio, one-, two-, three-, and four-bedroom layouts, along with 563 parking spaces. While primarily serving students at CSULB, the property is also well-positioned to capture demand from Long Beach City College and Pacific Coast University.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 123 |
| Opportunity Zone: | No |
| Property Website | Click Here |
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