1706 Sherman Place

Long Beach, CA 90804

$2,099,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $496 / sqft

1941

calendar_month Built

Property Description

9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 11.6 GRM and a 5.4% CAP with upside to a 6.1% CAP. VERY WELL MAINTAINED. Solid Eastside location in Long Beach. Most interiors have been updated (new kitchen cabinets, flooring, bath tile, fixtures, etc.) and property is professionally managed and well maintained. The property features multiple structures, meaning many units do not have common walls on all sides making the units more private. There are 3 garages in the rear as well as 2 surface spaces. Currently management is not charging for parking, but new ownership could. Spaces in Long Beach are at a premium and are worth $125-150/month - this could increase income by $700/month. The 2 bed unit in the rear has 2 outdoor patios attached to it. Every unit has it's own hot water heater. There is onsite laundry onsite. The electrical is General Electric - it's a 200 AMP main panel with 50 AMP subpanels (Buyer to verify). Email LA for more information including actual expenses and a current Rent Roll.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type None

Listing Information

Address 1706 Sherman Place
City Long Beach
State CA
Zip 90804
County Los Angeles
Listing Agent Jonathan Swire DRE#01336277
Courtesy Of The Agency
MLS 24383871
List Price $2,099,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 8,503
Year Built 1941
DOM 26

Exterior Information

Maps

Listing information courtesy of: Jonathan Swire, The Agency . *Based on information from the Association of REALTORS/Multiple Listing as of May 17th, 2024 at 8:48 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.