About 1512 Sherman Place
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.
Features of 1512 Sherman Place
| MLS® # | 26987109 |
|---|---|
| Price | $2,800,000 |
| Bedrooms | 6 |
| Bathrooms | 4.00 |
| Square Footage | 9,320 |
| Lot Size | 8,496 |
| Year Built | 1963 |
| Type | Residential Income |
| Status | Active |
| # Of Units | 11 |
Community Information
| Address | 1512 Sherman Place |
|---|---|
| Area | 3 - Eastside, Circle Area |
| City | Long Beach |
| County | Los Angeles |
| Zip Code | 90804 |
Amenities
| Parking Spaces | 11 |
|---|---|
| Parking | Attached Carport |
| Garages | Attached Carport |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | None |
|---|---|
| Cooling | None |
| Has Basement | No |
| Fireplace | No |
| Stories | Multi/Split |
Additional Information
| Date Listed | September 8th, 2026 |
|---|---|
| Days on Market | 11 |
| Zoning | LBR2N |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Taylor Avakian |
|---|---|
| Office | Lyon Stahl Investment Real Estate, Inc. |