$ 2,800,000
-
$2,800,000
Price -
20
Bed -
11
Bath -
9,320
SqFt -
0.2
Acre
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About the Listing X82195 - C138326
1512 Sherman Pl | 11-Unit Multifamily, Long Beach. 1963-built asset totaling 9,557 SF on a 15,291 SF lot in an established residential corridor near Long Beach's Eastside. The property features a balanced mix of six 2+1 units, three 1+1 residences, and two 3+2 units with eleven on-site parking spacesa structural advantage in this supply-constrained submarket. All eleven units are currently occupied and fully stabilized, with in-place rents averaging $2,129/month against market rents of $2,185 and the entire portfolio positioned to capture rent growth at each lease renewal through Long Beach rent control. Offered at $2,800,000 ($254,545/unit | $292.98/SF) with a 6.62% in-place cap rate, the real story is operational simplicity and organic growtha 6.88% pro forma cap and immediate distribution capacity as rents normalize through turnover with zero capex required.
Listing Highlights for 1512 Sherman Pl
Interior Details
- Bedrooms: 20
- Bathrooms: 11 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 11
- Zoning: LBR2N
- Roof:
- Others:
- Sewer:
- Parking Features: Carport Attached
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1512 Sherman Pl Long Beach, CA 90804
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