1706 Sherman Place Long Beach, CA 90804
$100K PRICE REDUCTION. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 11.4 GRM and a 5.5% CAP with upside to a 6.4% 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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site55 Days
- MLS StatusActive
- MLS ID Number24383871
- Home Size Source N/A
- Year Built1941
- Lot Size0.1952 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Covered
- Parking Spaces 5
- Number of Stories Multi/Split1
- Acreage 0.1952
- Garage Spaces 3
- Zoning LBR2N
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating Wall Furnace
- Laundry Features Community
Community Features
- Senior Community No
- MLS Area 3 - Eastside, Circle Area