1706 SHERMAN PL LONG BEACH, CA 90804

Features

• Price/sqft: $470
• Lot Size: 8501 sq. ft.
• Total Units: 9
• Total Rooms: 5
• Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
• Stories: 100
• Roof Type: HIP
• Heating: 6
• Construction Type: Wood

Facts

• Year Built: 01/01/1941
• Property ID: 879530009
• MLS Number: 24-383871
• Parcel Number: 7260-001-026
• Property Type: Townhouse or Condo
• County: LOS ANGELES
• Legal Description: JACKSON PARK TRACT LOT/SEC 21 BLK/DIV/TWN 2
• Zoning: LBR2N
• Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. $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.