Seller's Agent in 2020
Greg Bassirpou
Marcus & Millichap RE Invest
(949) 419-3269
30 Total Sales
1021 Hoffman Ave Long Beach, CA 90813
Hellman NeighborhoodEstimated Value: $1,463,000 - $1,883,000
2
Beds
1
Bath
3,504
Sq Ft
$464/Sq Ft
Est. Value
Highlights
- Property is near public transit
- Laundry Room
- 5-minute walk to Craftsman Village Park
- Long Beach Polytechnic High School Rated A
About This Home
As of September 2020The Hoffman Avenue Apartments are located in the City of Long Beach. The property offers an attractive unit mix comprised of 100% large two-bedroom/ one-bathroom units totaling 3,504 square feet, situated on a 7,731 square foot lot.
The subject property has recently gone through an extensive remodel of the interiors and exterior. Some interior upgrades include but are not limited to new kitchens, new bathrooms, new appliances, new flooring, new windows, and new garage doors. Amenities include patio/deck, ample on-site parking with enclosed garages, and washer/dryer hookups.
The subject property is conveniently located minutes away from Downtown Long Beach and the popular Alamitos Beach community, providing residents easy access to not only the beach, but also many employment opportunities and a vibrant nightlife scene. The Hoffman Avenue Apartments offers investors the oppotunity to acquire a stable, turn-key investment with a 5.77% CAP Rate and 11.16% total return on current income.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01365951 Listed on: 06/16/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1923
Lot Details
- 7,731 Sq Ft Lot
- No Common Walls
Parking
- 6 Open Parking Spaces
- 4 Car Garage
Interior Spaces
- 3,504 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Bathroom
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Additional Features
- Exterior Lighting
- Property is near public transit
Listing and Financial Details
- Legal Lot and Block 18 / A
- Tax Tract Number 66
- Assessor Parcel Number 7267008027
Community Details
Overview
- 2 Buildings
- 4 Units
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $875
- Fuel Expense $875
- Insurance Expense $1,692
- Trash Expense $875
- Water Sewer Expense $875
- New Taxes Expense $15,300
- Operating Expense $24,212
- Net Operating Income $73,506
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 16, 2020
Closed on
Aug 19, 2020
Sold by
Najimi Mohammad J
Bought by
Solverson Erik
Seller's Agent
Greg Bassirpou
Marcus & Millichap RE Invest
Buyer's Agent
Josh Ess
Buckingham Investments, Inc
List Price
$1,275,000
Sold Price
$1,255,000
Premium/Discount to List
-$20,000
-1.57%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$369,667
Avg. Annual Appreciation
4.93%
Original Mortgage
$1,300,180
Outstanding Balance
$1,149,029
Interest Rate
2.8%
Mortgage Type
VA
Estimated Equity
$475,638
Purchase Details
Closed on
Jan 15, 2019
Sold by
Farahani Parizad
Bought by
Najimi Mohammad J
Purchase Details
Closed on
Oct 23, 2018
Sold by
Gallegas Leo Joseph
Bought by
Najimi Mohammad J
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$735,000
Interest Rate
4.5%
Mortgage Type
Adjustable Rate Mortgage/ARM
Purchase Details
Listed on
Jan 12, 2017
Closed on
May 24, 2017
Sold by
Burgos Jorge A
Bought by
Gallegos Leo Joseph
Seller's Agent
Greg Bassirpou
Marcus & Millichap RE Invest
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$795,000
Sold Price
$750,000
Premium/Discount to List
-$45,000
-5.66%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.36%
Original Mortgage
$622,000
Interest Rate
4.03%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jan 26, 2017
Sold by
Burgos Maria
Bought by
Burgos Jorge A
Purchase Details
Closed on
Jan 24, 2017
Sold by
Burgos Catherine E
Bought by
Burgos Jorge A
Purchase Details
Closed on
Jul 27, 2007
Sold by
Burgos Maria
Bought by
Burgos Maria and Maria Burgos Living Trust
Purchase Details
Closed on
May 8, 2007
Sold by
Burgos Jorge A
Bought by
Burgos Jorge A and Burgos Maria
Purchase Details
Closed on
Feb 23, 2007
Sold by
Burgos Catherine E
Bought by
Burgos Jorge A
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$635,000
Interest Rate
6.25%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 4, 2006
Sold by
Burgos Catherine E
Bought by
Burgos Jorge A
Purchase Details
Closed on
Apr 13, 2005
Sold by
Doll Rita L
Bought by
Burgos Jorge A and Burgos Catherine E
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
1.37%
Mortgage Type
Negative Amortization
Purchase Details
Closed on
Feb 8, 2005
Sold by
Doll Rita L
Bought by
Doll Rita L and Rita L Doll Revocable Trust
Purchase Details
Closed on
Jul 12, 2004
Sold by
Hendrix Robert
Bought by
Doll Rita L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$560,000
Interest Rate
5.87%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jan 8, 2004
Sold by
Shokouhi Keyhan
Bought by
Kms Investment Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$424,000
Interest Rate
2.12%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Dec 19, 2003
Sold by
Kms Investment Inc
Bought by
Hendrix Robert and Hendrix Buffilyn
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$424,000
Interest Rate
2.12%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Dec 12, 2002
Sold by
Shokouhi Keyhan
Bought by
Shokouhi Keyhan
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$157,000
Interest Rate
5%
Purchase Details
Closed on
Dec 3, 2002
Sold by
Kms Investments Inc
Bought by
Shokouhi Keyhan
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$157,000
Interest Rate
5%
Purchase Details
Closed on
Jul 26, 2000
Sold by
Equicredit Corp Of America
Bought by
Kms Investment Inc
Purchase Details
Closed on
Feb 17, 2000
Sold by
Daud Mohsin
Bought by
Equicredit Corp Of America
Purchase Details
Closed on
Apr 7, 1999
Sold by
Johnson Tim R
Bought by
Shetty Satish
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
10.2%
Purchase Details
Closed on
Mar 31, 1999
Sold by
Shetty Satish
Bought by
Daud Mohsin
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
10.2%
Purchase Details
Closed on
May 10, 1995
Sold by
Johnson Tim Reed
Bought by
Johnson Tim Reed and Kaplan Robert Barry
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Solverson Erik | $1,255,000 | North American Title | |
| Najimi Mohammad J | -- | North American Title | |
| Najimi Mohammad J | $1,050,000 | North American Title | |
| Gallegos Leo Joseph | -- | North American Title Company | |
| Burgos Jorge A | -- | North American Title Co | |
| Burgos Jorge A | -- | None Available | |
| Burgos Maria | -- | None Available | |
| Burgos Jorge A | -- | None Available | |
| Burgos Jorge A | -- | Chicago Title Co | |
| Burgos Jorge A | -- | None Available | |
| Burgos Jorge A | $750,000 | Chicago Title Co | |
| Doll Rita L | -- | -- | |
| Doll Rita L | $700,000 | Fidelity National Title Co L | |
| Kms Investment Inc | -- | Fidelity National Title Co | |
| Hendrix Robert | $530,000 | Fidelity National Title Co | |
| Shokouhi Keyhan | -- | First American Title | |
| Shokouhi Keyhan | -- | First American Title | |
| Kms Investment Inc | $178,000 | Lawyers Title | |
| Equicredit Corp Of America | $169,900 | American Title | |
| Shetty Satish | $180,000 | Equity Title | |
| Daud Mohsin | $300,000 | Equity Title | |
| Johnson Tim Reed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Solverson Erik | $1,300,180 | |
| Previous Owner | Najimi Mohammad J | $735,000 | |
| Previous Owner | Gallegos Leo Joseph | $622,000 | |
| Previous Owner | Burgos Jorge A | $635,000 | |
| Previous Owner | Burgos Jorge A | $600,000 | |
| Previous Owner | Doll Rita L | $560,000 | |
| Previous Owner | Hendrix Robert | $424,000 | |
| Previous Owner | Shokouhi Keyhan | $157,000 | |
| Previous Owner | Daud Mohsin | $240,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/17/2020 09/17/20 | Sold | $1,255,000 | -1.6% | $358 / Sq Ft | |
| 08/31/2020 08/31/20 | Pending | -- | -- | -- | |
| 06/16/2020 06/16/20 | For Sale | $1,275,000 | +70.0% | $364 / Sq Ft | |
| 06/08/2017 06/08/17 | Sold | $750,000 | -5.7% | $214 / Sq Ft | View Prior Sale |
| 05/16/2017 05/16/17 | Pending | -- | -- | -- | |
| 01/12/2017 01/12/17 | For Sale | $795,000 | -- | $227 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $17,511 | $1,358,450 | $882,181 | $476,269 |
| 2024 | $17,511 | $1,331,815 | $864,884 | $466,931 |
| 2023 | $17,219 | $1,305,702 | $847,926 | $457,776 |
| 2022 | $16,169 | $1,280,100 | $831,300 | $448,800 |
| 2021 | $15,847 | $1,255,000 | $815,000 | $440,000 |
| 2020 | $13,751 | $1,071,000 | $749,700 | $321,300 |
| 2019 | $10,329 | $780,300 | $546,210 | $234,090 |
| 2018 | $9,937 | $765,000 | $535,500 | $229,500 |
| 2016 | $7,919 | $630,000 | $309,700 | $320,300 |
| 2015 | $7,715 | $630,000 | $309,700 | $320,300 |
| 2014 | $7,418 | $595,000 | $292,500 | $302,500 |
Source: Public Records
Agents Affiliated with this Home
-
Greg Bassirpou
-
Josh Ess
Buyer's Agent in 2020
Josh Ess
Buckingham Investments, Inc
(310) 982-7055
39 Total Sales
-
NoEmail NoEmail
N
Buyer's Agent in 2017
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
3 in this area
6,241 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC20116467
APN: 7267-008-027
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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