20
Bedrooms
$2,800,000
FOR SALE1512 Sherman Place
Long Beach, CA
MLS# 26987109
9,320 Sq Ft20bd • 11ba
56 days on marketNalren refreshed
Listing Agent
Taylor Avakian
Listing Agent
Lyon Stahl Investment Real Estate, Inc.
DRE #: 02060040
(310) 425-9838Brokerage: Lyon Stahl Investment Real Estate, Inc.
Property Details
11
Bathrooms
9,320 sqft
Square Feet
1963
Year Built
8,496 sqft
Lot Size
$300
Price/Sq Ft
N/A
Garage Spaces
N/A
HOA
N/A
Property Type
Description
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.
Facts & Features
Building
- Year Built
- 1963
- Living Area
- 9,320 sqft
- Building Area Total
- 9,320
- Levels
- Multi Split
- Stories Total
- 0
Utilities
- Heating
- None
- Cooling
- None
Parking
- Parking Features
- Attached Carport
- Parking Total
- 11
Community / HOA
- HOA
- No
Natural Hazard Information
Earthquake data is shown from a real public source (USGS)
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CRMLS
MLS# 26987109
Listed:
Nalren refreshed:
Last updated
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Listed by: Lyon Stahl Investment Real Estate, Inc.
Equal Housing Opportunity
Advertising Broker: Nalren Corp (CA DRE #02423715)
Licensed in the state of California
Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.