1512 Sherman Place, Long Beach, CA — listing photo 1
1 / 33
FOR SALENew Listing

1512 Sherman Place

Long Beach, CA 90804
20 Beds
11 Baths
9,320 Sq Ft
Built 1963
$2,800,000

Property Overview

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.

Home Details

Property type
Residential Income
Year built
1963
Living area
9,320 sq ft
Lot size
8,496 sq ft
Parking
11 spaces
Days on market
8
MLS status
Active
Zoning
LBR2N

Features & Amenities

Parking

  • Attached Carport

Community, Schools & Utilities

Utilities

Heating
None
Cooling
None
Browse more homes for sale in Long Beach

Location & Neighborhood

1512 Sherman Place

Long Beach, CA 90804

Open in Google MapsOpen in Apple Maps

Frequently Asked Questions About 1512 Sherman Place

Property type: Residential Income

The current asking price is $2,800,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 1512 Sherman Place. Our team will confirm availability and timing.
This 20 bedrooms and 11 bathrooms property offers approximately 9,320 square feet of living space. It was built in 1963. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.
The MLS currently reports the property as Active. It has been listed for 8 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

Get More Info

Crown Coastal Support Team

Direct support from our real estate team

Enquiry form loads as you reach this section.

Listing Agent

Name: Taylor Avakian
MLS ID: CLW-C138326

Available property

$2,800,000

CRMLS Logo

Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.