1706 Sherman Pl
Long Beach, CA 90804
Sale Price
$2,099,000
Property Type
Income Property
Property 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 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.
Property Specifics
Property Type:
Income Property
Monthly Common Charges:
$62,000
Estimated Sq. Foot:
4,226
Building Stories:
N/A
Pet Policy:
N/A
MLS ID:
24-383871
Source Status:
Active
Unit Amenities
Covered Parking
Community
Parking
Location & Transportation
Other Property Information
Summary
General Information
- Year Built:
1941
- Year Built Source:
Vendor Enhanced
Parking
- Total Parking Spaces:
5
- Parking Features:
Covered Parking
- Garage:
Yes
- Garage Spaces:
3
Interior and Exterior Features
Interior Features
- Living Area:
4,226 sq. ft.; source: Vendor Enhanced
- Total Bedrooms:
10
- Full Bathrooms:
9
- Laundry Features:
Community
- Other Equipment:
None
Property Information
Lot Information
- Zoning:
LBR2N
- Lot Size:
8,502.91 sq. ft.; source: Vendor Enhanced
- Lot Dimensions:
50x170
Estimated Monthly Payments
Monthly Total
$72,068
Monthly Charges
$62,000
Monthly Taxes
N/A
Interest
6.00%
Down Payment
20.00%
Mortgage Calculator
Monthly Mortgage Cost
$10,068
Monthly Charges
$62,000
Total Monthly Payment
$72,068
Calculation based on:
Price:
$2,099,000
Charges:
$62,000
* Additional charges may apply
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