MarketPier

4652 N Banner Drive - Long Beach, CA 90807

$1,900,000
Listing Description

4652-4654 N. Banner Avenue is an 8-unit, value-add asset with +/-21% upside potential in rents. The building features a good mix of (2) studio and (6) one-bedroom units along with ample parking of 5 garages plus 3 additional spaces, and is separately metered for gas and electric. Located in Bixby Knolls, Long Beach, the property is in close proximity to employment and retails hubs such as The Terminal at Douglas Park, LBX, the Atlantic Corridor, and the Globemaster Specific Corridor, which will bring additional development to the area.

Listing Information
MLS Number
PW20010478
APN/Parcel ID
7136012021
Type
Multifamily
Sub Type
Multifamily
Building Size
5,030 sqft
Lot Size
7,136 sqft
Price / SQFT
$378
No Units
8
Price / Unit
$237,500
Gross Scheduled Income
$125,280
Expenses
$47,210
Total Expenses
$47,210
Net Income
$71,806
Listing Date
1/15/2020
Days Active
69
Last Updated
4/2/2020
Listing Provided By
Robert Stepp
Keller Williams Pacific Estate
BRE# 01456379

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