Listed by Tyler Leeson, Marcus & Millichap RE Invest,

4676 4684 N Banner Drive

Long Beach, CA, 90807

$4,100,000

$398 per ft²
$4,100,000
$398 per ft²
Active
Active
 - For Sale
carpenters-square
10,300 ft²
property_type
Multi-family
calendar
Built 1946
Banner Gardens Apartments is a 16-unit multifamily investment property located in Long Beach, CA. The property offers attractive assumable financing at 4.05% through November 2024. Banner Gardens Apartments contains an excellent mix of studio, one, and two-bedroom floor plans with amenities including a private patio and deck (select units), hardwood and tile flooring, garage and surface parking, on-site laundry, and security doors. Additionally, 9 of 16 units have been renovated with quartz countertops, recessed lighting, shaker-style cabinetry, and more. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, Banner Gardens Apartments represents an attractive value-add opportunity for a new owner. Banner Gardens Apartments is situated in the desirable Bixby Knolls neighborhood of Long Beach, which primarily features single-family homes. Residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the recently constructed Long Beach Exchange that is within 2 miles of the property. Banner Gardens Apartments is in close proximity to all levels of schooling including Barton Elementary School, Hughes Middle School, and Jordan High School. Additionally, the property benefits from its location within 1.90 miles of Interstates 710 and 405, connecting residents to employment hubs throughout Los Angeles and Orange Counties.
MLS® ID:
OC22243593
Listed:
11/16/22
Updated:
12/3/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area

Exterior/Building Features

Lot Size
0.34 acres lot
Lot Details
Street Level
Sewer
Public Sewer

Other Property Details

Area Name
699 - Not Defined
Association Amenities
Curbs, Sidewalks
Garage
Yes
Garage Spaces
4
Parking
Y
Parking Total
10.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2
Zoning
LBR3S

Courtesy of Marcus & Millichap RE Invest, Tyler Leeson,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 12/3/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

©2022 California Regional Multiple Listing Service. All rights reserved.

Data last updated 6:21 AM UTC, 12/3/22

Contact