Allison Van Wig
Responds Quickly
Keller Williams Coastal Prop.
(562) 582-8861
236 Total Sales
1 in Hellman
$850,000 Price
1024 Hoffman Ave Long Beach, CA 90813
Hellman Neighborhood
17
Beds
5
Baths
3,904
Sq Ft
8,398
Sq Ft Lot
Highlights
- 0.19 Acre Lot
- Long Beach Polytechnic High School Rated A
- 1-Story Property
About This Home
As of February 2022Rare opportunity to purchase a stabilized property at 13.6X gross on actuals plus a 15% upside in rents. Actual in-place cap rate of 4.6% with a super strong rate of 5.5% at market rents. 4 out of 5 units were built in the 1980’s allowing a low maintenance asset. Attractive unit mix with (2) four bedroom units and (3) three bedroom units. Two parking spaces per unit for a total of 10 spaces in an extremely parking impacted area. 4 out of 5 units extensively renovated with updated kitchens, quartz counters, vinyl plank flooring, and remodeled bathrooms. Clean, professionally managed building with no deferred maintenance. High actual income allows for great leverage.
Last Agent to Sell the Property
Buckingham Investments, Inc License #01908153 Listed on: 10/12/2021
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1948
Lot Details
- 8,398 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Home Design
- Property Attached
Interior Spaces
- 3,904 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 17 Bedrooms
- 5 Bathrooms
Parking
- 10 Parking Spaces
- 10 Carport Spaces
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 18 / B
- Tax Tract Number 576
- Assessor Parcel Number 7267010010
- $1,029 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 5 Units
- Alamitos Beach Subdivision
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $492
- Fuel Expense $492
- Gardener Expense $1,970
- Insurance Expense $2,268
- Pest Control $675
- Professional Management Expense $7,113
- Trash Expense $492
- Water Sewer Expense $492
- New Taxes Expense $21,188
- Operating Expense $41,342
- Net Operating Income $77,207
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Nov 5, 2021
Sold by
P Three Llc
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,265,000
Interest Rate
3.45%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 7, 2018
Sold by
Le Buchanan Investments Llc
Bought by
P Three Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
4.4%
Mortgage Type
Adjustable Rate Mortgage/ARM
Purchase Details
Closed on
Jul 20, 2016
Sold by
Burgos Maria and The Maria Burgos Living Trust
Bought by
Le Buchanan Investments Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
3.43%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 23, 2003
Sold by
Burgos Catherine
Bought by
Burgos Jorge A
Purchase Details
Closed on
Apr 22, 2003
Sold by
Helmle Carl and Helmle Shannon
Bought by
Burgos Jorge A and 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
$420,000
Interest Rate
5.63%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 13, 2001
Sold by
Aragon Irene
Bought by
Aragon Luis
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$336,000
Interest Rate
6.75%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 24, 2000
Sold by
Nelson Stephen V
Bought by
Nelson Stephen V and Aragon Louis
Purchase Details
Closed on
Aug 8, 2000
Sold by
Watts Cecil E and Watts Marjorie
Bought by
Nelson Stephen V
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
7.96%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 14, 1993
Sold by
California Federal Bank Fsb
Bought by
Watts Cecil E and Watts Marjorie
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Hellman, CA
-
Allison Van Wig
-
Rory Cochrane
Rory Cochrane
West Shores Realty, Inc.
(424) 372-8596
5 Total Sales
1 in Hellman
$501,000 Price
-
Rebecca Sekulich
Rebecca Sekulich
Compass
(424) 367-1735
45 Total Sales
1 in Hellman
$780,000 Price
-
Carlos Silva
Carlos Silva
KELLER WILLIAMS REALTY COLLEGE PARK
(844) 808-1321
70 Total Sales
1 in Hellman
$820,000 Price
-
Cassidy Tutt
Cassidy Tutt
WGroup Realtors
(562) 553-8110
44 Total Sales
1 in Hellman
$980,000 Price
-
Cyrus Mohseni
Cyrus Mohseni
Responds QuicklyThe Keystone Team
(657) 341-0810
179 Total Sales
1 in Hellman
$525,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,750,000 | Fidelity National Title | ||
| P Three Llc | $1,310,000 | First American Title Company | |
| Le Buchanan Investments Llc | $950,000 | North American Title Company | |
| Burgos Jorge A | -- | Chicago Title Co | |
| Burgos Jorge A | -- | Chicago Title Co | |
| Burgos Jorge A | $597,500 | Chicago Title Co | |
| Aragon Luis | -- | American Title Co | |
| Helmle Carl | $448,000 | American Title Co | |
| Nelson Stephen V | -- | American Title Co | |
| Nelson Stephen V | $195,000 | Southland Title Corporation | |
| Watts Cecil E | $196,000 | Commonwealth Land Title Co |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $1,265,000 | ||
| Previous Owner | P Three Llc | $900,000 | |
| Previous Owner | Le Buchanan Investments Llc | $650,000 | |
| Previous Owner | Burgos Maria | $560,000 | |
| Previous Owner | Burgos Jorge A | $420,000 | |
| Previous Owner | Helmie Carl | $6,644 | |
| Previous Owner | Helmle Carl | $336,000 | |
| Previous Owner | Nelson Stephen V | $200,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/08/2022 02/08/22 | Sold | $1,750,000 | +3.2% | $448 / Sq Ft | |
| 10/29/2021 10/29/21 | Pending | -- | -- | -- | |
| 10/12/2021 10/12/21 | For Sale | $1,695,000 | +29.4% | $434 / Sq Ft | |
| 07/13/2018 07/13/18 | Sold | $1,310,000 | -1.1% | $336 / Sq Ft | View Prior Sale |
| 04/04/2018 04/04/18 | For Sale | $1,325,000 | -- | $339 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2026 | $24,801 | $1,894,254 | $1,228,560 | $665,694 |
| 2025 | $24,801 | $1,857,113 | $1,204,471 | $652,642 |
| 2024 | $23,728 | $1,820,700 | $1,180,854 | $639,846 |
| 2023 | $23,331 | $1,785,000 | $1,157,700 | $627,300 |
| 2022 | $17,464 | $1,377,042 | $967,083 | $409,959 |
| 2021 | $17,113 | $1,350,042 | $948,121 | $401,921 |
| 2020 | $17,068 | $1,336,200 | $938,400 | $397,800 |
| 2019 | $16,870 | $1,310,000 | $920,000 | $390,000 |
| 2018 | $12,537 | $969,000 | $678,300 | $290,700 |
| 2016 | $9,060 | $717,615 | $288,246 | $429,369 |
| 2015 | $8,706 | $706,837 | $283,917 | $422,920 |
| 2014 | $8,664 | $692,992 | $278,356 | $414,636 |
Source: Public Records
Agents Affiliated with this Home
-
Anthony Walker
Seller's Agent in 2022
Anthony Walker
Buckingham Investments, Inc
(310) 982-7055
2 in this area
85 Total Sales
-
Cody Charnell
Buyer's Agent in 2022
Cody Charnell
Sage Real Estate Group, Inc.
(562) 896-3851
3 in this area
52 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB21225992
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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