1512 Sherman Place, Long Beach, CA 90804

Long Beach
Local realty services provided by:Better Homes and Gardens Real Estate Everything Real Estate
1512 Sherman Place,Long Beach, CA 90804
$2,800,000
  • 20 Beds
  • 11 Baths
  • 9,320 sq. ft.
  • Multi-family
  • Active
Listed by: taylor avakian
Office: lyon stahl investment real estate, inc.310-425-9838
MLS#:26987109
Source:CRMLS

Price summary

  • Price:$2,800,000
  • Price per sq. ft.:$300.43

About this home

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.

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Home facts

  • Year built:1963
  • Listing ID #:26987109
  • Added:13 day(s) ago
  • Updated:September 24, 2026 at 11:07 AM

Rooms and interior

  • Bedrooms:20
  • Total bathrooms:11
  • Living area:9,320 sq. ft.

Structure and exterior

  • Year built:1963
  • Building area:9,320 sq. ft.
  • Lot area:0.2 Acres

Finances and disclosures

  • Price:$2,800,000
  • Price per sq. ft.:$300.43

Parking

  • Total parking spaces:11
  • Parking description:Attached Carport
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