$1,949,000
- Beds
- 10
- sq ft
- 4,226
1706 Sherman Pl, Long Beach, CA 90804
1706 Sherman Pl
Long Beach, CA 90804
- 62 days on market
- Price drop $41,000↓
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.
Details
Property type
Lot size
8,503 sq ft
Price per sq ft
$462
Year built
1941
HOA
No
Price History
06/25/2024
CLAW #24383871
Price change
$1,949,000
-2.06%
05/21/2024
CLAW #24383871
Price change
$1,990,000
-5.19%
04/29/2024
CLAW #24383871
Listed
$2,099,000
Schools & Community
Neighborhood:
Zaferia
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 07/01/2024 at 7:00 AM
Listing updated: 06/25/2024 at 3:13 PM
Listed by: Jonathan Swire, The Agency Phone #: (424) 230-3700
MLS: CLAW #24383871
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