1706 Sherman Place, Long Beach
Long Beach Home For Sale
PRICED TO SELL. Priced at 11 GRM and a 5.7% CAP with upside to a 6.6% CAP and 10 GRM. $100K PRICE REDUCTION. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. 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 Details
Additional Information
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- City:
- Long Beach
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- County:
- Los Angeles
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- Zip:
- 90804
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- MLS® #:
- 24383871
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- Bedrooms:
- 3
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- Bathrooms:
- 2
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- Square Ft:
- 4,226
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- Lot Size:
- 0.20
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- Levels:
- Multi/Split
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- Garages:
- 3
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- HOA Dues:
- $
Price Change History for 1706 Sherman Place, Long Beach, (MLS® #24383871)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced | $1,949,000 | $41,000 (2.06%) | |
| Price Reduced (from $2,099,000) | $1,990,000 | $109,000 (5.19%) |
Based on information from California Regional Multiple Listing Service, Inc. as of August 15th, 2024 at 3:26pm PDT. 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.