Transit-Oriented Beachfront High-Rise
The Current is a brand new, beachfront apartment high-rise with panoramic ocean views located in Downtown Long Beach. It is one of only two coastal high-rise apartment buildings built in L.A. County since the 1960’s, and offers one of the most walkable locations in all of Southern California. The 16-story building opened in April 2016, and offers 223 luxury, market rate apartments and 6,195 sq. ft. of retail anchored by a ground floor Starbucks.
The property is located in the East Village Arts District – a hip and urban neighborhood with all of the elements for accelerated growth, including excellent walkability to the beach, the metro, a Vons grocery store, major public and private developments, and a massive job base undersupplied by quality apartments. It is the first luxury high-rise apartment building built in Long Beach since 1968, and one of the only modern apartment buildings offering walkable access to this unique, authentic urban neighborhood.
The property also enjoys one of the highest concentrations of affluent residents among any “core” properties in Southern California, with average incomes of $216,000 and more than 75% of households earning over $100,000.
With barriers to entry in coastal Southern California markets extremely high and oceanfront communities of scale almost never coming to market, this is an opportunity to acquire the highest quality coastal high-rise apartment building in all of Southern California, located steps from the beach in a walkable, transit-oriented, urban location.