We study a Kagome-like spin-$1/2$ Heisenberg ladder with competing ferromagnetic (FM) and antiferromagnetic (AFM) exchange interactions. Using the density-matrix renormalization group based calculations, we obtain the ground state phase diagram as a function of the ratio between the FM and AFM exchange interactions. Five different phases exist. Three of them are spin polarized phases; an FM phase and two kinds of ferrimagnetic (FR) phases (referred to as FR1 and FR2 phases). The spontaneous magnetization per site is $m=1/2$, $1/3$, and $1/6$ in the FM, FR1, and FR2 phases, respectively. This can be understood from the fact that an effective spin-1 Heisenberg chain formed by the upper and lower leg spins has a three-step fractional quantization of the magnetization per site as $m=1$, $1/2$, and $0$. In particular, an anomalous "intermediate" state $m=1/2$ of the effective spin-1 chain with the reduced Hilbert space of a spin from $3$ to $2$ dimensional is highly unexpected in the context of conventional spin-1 physics. Thus, surprisingly, the effective spin-1 chain behaves like a spin-1/2 chain with SU(2) symmetry. The remaining two phases are spin-singlet phases with translational symmetry breaking in the presence of valence bond formations. One of them is octamer-siglet phase with a spontaneous octamerization long-range order of the system, and the other is period-4 phase characterized by the magnetic superstructure with a period of four structural unit cells. In these spin-singlet phases, we find the coexistence of valence bond structure and gapless chain. Although this may be emerged through the order-by-disorder mechanism, there can be few examples of such a coexistence.
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