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1706 Sherman Pl, Long Beach, CA 90804
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1706 Sherman Pl Long Beach, CA 90804

$2,099,000
  • 10 Beds
  • 9 Baths
  • 4,226 Sq.Ft.
For Sale
$2,099,000 Get Pre-Qualified
Map preview of 1706 Sherman Pl, Long Beach, CA 90804

Property Overview: 1706 Sherman Pl Long Beach, CA has 10 bedrooms, 9 bathrooms, 4,226 living square feet and 8,503 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Jonathan Swire | BRE #01336277 | The Agency
Last checked: 10 minutes ago | Last updated: May 1st, 2024 | Source CRMLS | DOM: 19
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Home details

Lot Sq. Ft
8,503
HOA Dues
$0/mo
Year built
1941
Garage
3 Car
Property Type:
Multi Family
Status
Active
MLS#
24383871
City
Long Beach
County
Los Angeles
Time on Site
17 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 4
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,650
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,795
  • Pro Forma/Market Rent: $1,795
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.4%
  • Gross Rent Multiplier: 11.6
  • Gross Scheduled Income: --
  • Net Operating Income: $113,000
  • Gross Operating Income: $180,660
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1706 Sherman Pl

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Property Details for 1706 Sherman Pl

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 5
  • Has Parking
  • Parking Features: Covered
Property Information
  • Total # of Units: 9
  • Parcel Number: 7260001026
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 9 units on the Eastside of Long Beach.
View more facts & features

Local Long Beach Agent

Sale History for 1706 Sherman Pl

Last sold for $1,350,000 on August 4th, 2017

  • April, 2024

  • Apr 23, 2024

    Date

    Active

    CRMLS: 24383871

    $2,099,000

    Price

  • August, 2017

  • Aug 4, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,350,000

    Price

  • July, 2015

  • Jul 10, 2015

    Date

    Sold (Public Records)

    Public Records

    $950,000

    Price

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Tax History for 1706 Sherman Pl

Assessed Value (2020): $1,405,180
Year Land Value Improved Value Assessed Value
2020 $832,320 $572,860 $1,405,180

Home Value Compared to the Market

This property vs the competition

1706 Sherman Pl is listed 162.7% higher than the median list price for the city of Long Beach which has a median list price of $799,000. The median price per/sqft for Long Beach is $647 and this home is listed at $496.69 per/sqft which puts the price per square foot 23.23% lower than the median price per square foot for the city of Long Beach.

About 1706 Sherman Pl

Detailed summary of property

1706 Sherman Pl is a multi family located in Long Beach, CA 90804 and is currently for sale. This multi family property offers 10 bedrooms, 9 bathrooms, roughly 4,226 living square feet, and sits on an approximately 8,503 square foot lot. 1706 Sherman Pl was first listed on ArdentRealEstateGroup.com on April 29, 2024. The homeowner is currently asking $2,099,000. The median priced home in Long Beach is $799,000 with a median price per square foot of $647. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 162.7% higher than the median priced home. Local competing homes currently for sale include 1141 E 16th St, 536 Saint Louis Ave and 441 Dawson Ave. While the average home in Long Beach, CA is selling in 51 days, 1706 Sherman Pl has a days on market of 19 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 1706 Sherman Pl Long Beach, CA 90804 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1706 Sherman Pl

Public county record property details
Beds
10
Baths
9
Year built
1941
Sq. Ft.
4,226
Lot Size
8,500
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
21
APN
7260-001-026

The source for these homes facts are from public records.

90804 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$515,000
Median List Price/Sq.Ft.
$594
Median Sold Price
$550,000
Median Sold Price/Sq.Ft.
$667
Total Inventory
53
Median Sale to List Price %
104.77%
Avg Days on Market
23
Loan Type
Conventional (57.14%), FHA (0%), VA (14.29%), Cash (28.57%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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