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IN ESCROW | 16 Unit Apartment in Bixby Village (Long Beach, Ca)

OVERVIEW

FOR SALE – 3 Unit Remodeled & Vacant in Picfair Village
Los Angeles, CA

4470-80 N. Banner Drive is located in the highly desirable Bixby Knolls neighborhood in Long Beach. This rare 16 unit apartment building has been owned by the same family for over 45 years, and has been professionally managed by a local property management company. This investment offers an investor a chance to acquire a solid value add opportunity in a strong developing rental market.

The property is comprised of two separate 8 unit buildings sitting on two separate APN’s with all 1 bedroom / 1 bath units. Most of the tenants are month to month, and there are currently two units vacant and available for immediate occupancy. In the rear is a community laundry room, and (6) 2-car garages that are being rented out for additional income. The building was originally built in 1947 with a total size of 10,408 SF, sitting on two parcels totaling14,538 SF lot zoned R3 allowing for potential future development.

  • 1st Time on Market in 45 Years!

Prime Location in Bixby Knolls near Virginia Country Club, California Heights, LB Airport, LB Memorial Hospital, Freeways, Downtown, and Atlantic Blvd Restaurants & Shops.

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SUMMARY

Offering Price:
$1,649,000

Total Units:
3

Building SF:
3,668sf

Lot Size:
5,951sf

Year Built:
1936

Zoning
LA-R2

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