1512 Sherman PL, Long Beach, CA 90804
1512 Sherman PL, Long Beach, CA 90804
1512 Sherman PL, Long Beach, CA 90804
1512 Sherman PL, Long Beach, CA 90804
1512 Sherman PL, Long Beach, CA 90804
1512 Sherman PL, Long Beach, CA 90804
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Sam Mu

Sam Mu

+1(949) 258-2228
$ 2,800,000
Est. payment | /mo

20 Beds

11 Baths

9,320 SqFt

Save
$ 2,800,000
Est. payment | /mo
Save

20 Beds

11 Baths

9,320 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 9,320 sqft

Price per Sqft $300

MLS Listing ID 26987109

Bedrooms 20

HOA Y/N No

Year Built 1963

Lot Size 8,494 Sqft

Property 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.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Attached Carport

Total Parking Spaces 11

Building

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 7260014030

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040

Nearby Locations

Sam Mu

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 258-2228

sammuteam@gmail.com

880 Roosevelt Suite 250, Irvine, California 92620, United States

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1512 Sherman PL