$ 1,759,000
-
$1,759,000
Price -
3
Bed -
2
Bath -
4,226
SqFt
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About the Listing CLW-X79013 - CLW-X52994
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.
Listing Highlights
Interior Details
- Bedrooms: 3
- Bathrooms: 2 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: 3 car
- Parking Spaces: 5
- Lot Dimensions: 50x170
- Zoning: LBR2N
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Covered
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7260001026
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
1706 Sherman Pl Long Beach, CA 90804
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