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(323) 864-4211
Linda Roth Burrell
1706 Sherman Pl, Long Beach, CA 90804
- $1,749,000
- 10
- BD
- 9
- BA
- 4,226
- SqFt
- Sold Price
- $1,749,000
- List Price
- $1,758,500
- Closing Date
- Jun 18, 2026
- MLS#
- 26642011
- Year Built
- 1941
- Bedrooms
- 10
- Bathrooms
- 9
- Living Sq. Ft
- 4,226
- Lot Size
- 8,503
- Days on Market
- 69
- Property Type
- Multifamily
- Stories
- 1
Property Description
PRICED TO SELL - 9.8 GRM AND 6.8% CAP WITH UPSIDE TO AN 8.3% CAP. 9 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI. 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. The 2 bed unit in the rear has 2 outdoor patios attached to it. Every unit has it's own hot water heater. Currently management is not charging for parking, but new ownership could. Parking in Long Beach is at a premium and spaces/garages are worth $125-150/month - this could increase income by $700/month. There is laundry onsite and the property is fully secured. The electrical is General Electric - it's a 200 AMP main panel with 50 AMP subpanels (Buyer to verify). Qualifed Buyers can put down as little as 25% on a new 5-year loan. EARN OVER AN 11% CASH ON CASH RETURN AGAINST IN PLACE RENTS. Email LA for more information including actual expenses and a current Rent Roll.
Additional Information
- Other Buildings
- None
- Heat
- Wall
- Cooling
- None
- Number of Cars in Garage
- Covered Parking
- Garage Spaces Total
- 3
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Courtesy of The Agency, Jonathan Swire - CA DRE#01336277 Selling Office: .
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