NOT LISTED FOR SALE

1080 Hoffman Ave Long Beach, CA 90813

Hellman Neighborhood
9 Beds
9 Baths
5,784 Sq Ft
6,977 Sq Ft Lot

Last Sold April 16, 2020

Last sale price $2,048,000 $354 Per Sq Ft

156 Days on Market

Highlights

  • Bathtub with Shower
  • Ceiling Fan
  • 5-minute walk to Douglas Macarthur Park
  • Long Beach Polytechnic High School Rated A

About This Home

As of April 2020

Priced to sell! 9 Unit, 100% occupied, turnkey, gated apartment building, with Instant Passive Income! Located in a growing, progressive area of Long Beach, 10 blocks from the ocean, walking distance to restaurants, coffee shops, libraries, schools and parks. Current cap rate is 5.5%, annual rent increases 5%, plus the cost of living percentage or 10%, whichever is lower. Park your money here and enjoy! All large 1 bdrm, 1 bath units, all new copper plumbing (15 year warranty), new water heater, (5 year warranty), all new electric panels and breakers, separately metered for gas and electric, new paint, gutters, tile and laminate flooring throughout. Mos. current rental income $12,397.50 + 6 parking (3 spaces & 3 garages), is $450 per month, and/or storage, for a total monthly income of $12,847.50, with on site laundry room (currently not in use), for extra income. Minutes away from major freeways for quick access to Los Angeles and Orange County.

Last Agent to Sell the Property

Marilee Haley

Hugh Borax License #01721710 Listed on: 09/09/2019

Last Buyer's Agent

Anthony Walker

License #01908153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 6,977

Parking

  • 3 Car Garage
  • 3 Carport Spaces

Interior Spaces

  • 5,784 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Kitchen

  • Gas Cooktop
  • Disposal

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 9 Bathrooms
  • Bathtub with Shower

Additional Features

  • 6,977 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 9 Units
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 7267-009-003

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Parking

3

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Alley: No
  • Living Area: 5784
  • Price Per Unit: 227000.00
  • Probate: No
  • Stories: 2
  • Year Built: 1956
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Number Disposal: 9
  • Appliances: Cooktop - Gas
  • Bedrooms: 9
  • Common Walls: Attached
  • Bathroom Features: Shower and Tub
  • Total Bathrooms: 9.00
  • Equipment: Garbage Disposal
  • Price Per S Q F T: 354.00

Exterior Features

  • Other Structures: None
  • Tennis Court Y/N: No
  • Construction: Frame and Stucco
  • Paved: Yes
  • Pool: No

Garage/Parking

  • Carport Spaces: 3
  • Garage Spaces: 3
  • Other Spaces: 3
  • Covered Parking: 3
  • Garage Structures: 3
  • Number Rented Garages: 3
  • Parking Garage: Garage - 3 Car
  • Total Parking: 6

Utilities

  • Cooling: Ceiling Fan
  • Heating: Wall Gas
  • Number Electric Meters: 9
  • Number Gas Meters: 9
  • Water Expense: 2200.00
  • Water Heaters: Yes

Fee Information

  • Insurance Expense: 1960.00
  • Maintenance Expense: 4860.00
  • Management Expense: 3600.00

Lot Info

  • Assessor Parcel Number: 7267-009-003
  • Geocode Override: No
  • Lot Size Area: 6977

Rental Info

  • Number Leased: 9
  • Garage Rental Rate: 100.00
  • Monthly Gross Income: 12848.00
  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114
  • Gross Rent Multiplier: 13.00
  • Gross Scheduled Income: 113087.00
  • Number Of Units: 9
  • Type Of Units: 1 bedroom
  • Vacancy Allow Percent: 3.00

Tax Info

  • Tax Expense: 24000.00

MLS Schools

  • School District: Long Beach Unified

Range of Values:

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Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/16/2020 04/16/20 Sold $2,048,000 0.0% $354 / Sq Ft
02/12/2020 02/12/20 Pending -- -- --
01/29/2020 01/29/20 Price Changed $2,048,000 0.0% $354 / Sq Ft
01/29/2020 01/29/20 For Sale $2,048,000 0.0% $354 / Sq Ft
10/15/2019 10/15/19 Off Market $2,048,000 -- --
09/09/2019 09/09/19 For Sale $2,000,000 -- $346 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2020

    Marilee Haley

    Hugh Borax

    (310) 429-8620

    7 Total Sales

    Marilee Haley
    Section Image

  • A

    Buyer's Agent in 2020

    Anthony Walker

See All Agents

Map

Source: The MLS

MLS Number: 19-509100

The MLS
California Los Angeles County Long Beach 90813 Hellman

1080 Hoffman Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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