1706 Sherman Place

Long Beach, CA 90804

$2,099,000
Price
10
Beds
9
Baths
4,226 Sq. Ft.
$497 / Sq. Ft.
4,226
Sq. Ft.
$497
per Sq. Ft.

Description

9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 11.6 GRM and a 5.4% CAP with upside to a 6.1% 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...9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 11.6 GRM and a 5.4% CAP with upside to a 6.1% 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.
  1. Listed by Jonathan Swire • DRE #01336277 • Brokerage DRE #01738973 • The Agency

Property Details for 1706 Sherman Place

Zoning
LBR2N
Parcel Number
7260001026
Total Units
9.0
Living Area
4226
Source Living Area
Vendor Enhanced
Area
Eastside, Circle Area (3)
Vacancy Rate
0%
Lot Size Area
8503

Location

Listing Courtesy of The Agency, Jonathan Swire, DRE #01336277
Add your commute
LISTING UPDATED: 05/01/2024 12:01 AM

Property Details for 1706 Sherman Place

StatusActive
MLS #24-383871
Days on Market24
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1941
Lot Size0.20 AC / 8,503 SF
CountyLos Angeles County

Location

Listing Courtesy of The Agency, Jonathan Swire, DRE #01336277
Add your commute

Building Information for 1706 Sherman Place

Stories1Residences-Year Built1941Building Size-Lot Size0.20 AC / 8,503 SF

Payment Calculator

$13,122 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,455

Property Taxes

$1,667

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1706 Sherman Place

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 4
  • Type Of Units: Income
  • Water Heaters: Yes
  • ADA Compliance: No
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $180,660
  • Net Operating Income: $113,000.00
  • Gross Income: $180,660
  • Cap Rate: 5.40%
  • Gross Rent Multiplier: $11.60
  • Total Annual Expense: 62000
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1952
  • Lot Size Square Feet: 8503
  • Lot Size Dimensions: 50x170
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 5
  • Open Other Spaces Total: 2
  • Garage Spaces Total: 3
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
  • Laundry: Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-29-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,650.00
  • Unit Actual Rent: $1,650.00
  • Unit Projected Rent: $1,650.00
  • Like Units: 8
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,795.00
  • Unit Actual Rent: $1,795.00
  • Unit Projected Rent: $1,795.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $601,504.00
  • Assessed Improvement Percent: 40.74
  • Assessed Land Value: $874,915.00
  • Assessed Land Percent: 59.26
  • Assessed Total Value: $1,476,419.00

Property History for 1706 Sherman Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1706 Sherman Place

Taxable ValueLand$874,915Additions$602,144Total$1,477,059
Tax Record2023$20,007 ($1,667 / month)
Home Facts
Total Finished SqFt4,226 SqFtAbove Grade Finished SqFt4,226 SqFtLot Size8,501 SqFtStyleMulti-Family Res (5+ Units)Year Built1941ZoningLBR2NCountyLOS ANGELESAPN7260-001-026

Schools near 1706 Sherman Place

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Lee Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson High School
Public9 to 12

Richard D. Browning High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1706 Sherman Place is a multi-family home for sale in Long Beach, CA 90804. This property was listed for sale on April 23, 2024 by The Agency, it's currently listed at $2,099,000. It has been on the market for a total of 24 days and was last sold on April 25, 2017. This listing's school district is Long Beach Unified School District. Nearby schools include Lee Elementary School, Jefferson Leadership Academies School and Wilson High School. 1706 Sherman Place is a 10-bed, 9-bath, 4,226 sqft multi-family home built in 1941.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Agency, Jonathan Swire, DRE #01336277

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.