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4676 Banner Drive
Long Beach, CA 90807
Sold
Banner Gardens Apartments is a 16-unit multifamily investment property located in Long Beach, CA. The property offers attractive assumable financing at 4.06% 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.
PROPERTY INFORMATION
| MLS # | OC22243593 | Lot Size | 14,810 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 4,000,000
Price Per SqFt: $ 388 |
DOM | 962 Days |
| Address | 4676 Banner Drive | Type | Residential Income |
| City | Long Beach | Sq.Ft. | 10,300 Sq. Ft. |
| Postal Code | 90807 | Garage | 4 |
| County | Los Angeles | Year Built | 1946 |
| Bed / Bath | 3 / 0 | Parking | 10 |
| Built In | 1946 | Status | Closed |
| Sold Date | 2023-04-27 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Community |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $4,267
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 04/27/2023 | Sold | $3,950,000 |
| 03/20/2023 | Pending | $4,000,000 |
| 02/08/2023 | Price Change | $4,000,000 (-2.44%) |
| 11/17/2022 | Listed | $4,100,000 |
Topfind Realty
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Listing provided courtesy of Tyler Leeson, Marcus & Millichap RE Invest. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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.
