NOT LISTED FOR SALE

1133 Hoffman Ave Long Beach, CA 90813

Cambodia Town Neighborhood
-- Bed
10 Baths
3,926 Sq Ft
6,579 Sq Ft Lot

Last Sold June 26, 2019

Last sale price $1,400,000 $357 Per Sq Ft

33 Days on Market

Highlights

  • Laundry Room
  • 1-Story Property
  • 2-minute walk to Douglas Macarthur Park
  • Long Beach Polytechnic High School Rated A

About This Home

As of June 2019

The subject property is located at 1133 Hoffman Ave, four blocks East of Alamitos Ave. and one blocks South of Anaheim Street. This investment consists of 12 studio bedrooms/one-bathroom units. Built in 1923, this property is a single story, center courtyard style building. With approximately 3,926 rentable square feet, and a lot size of 6,578 sq. ft. and individually metered for gas and electricity the property offers a desirable unit mix.

Located within close proximity to numerous restaurants and shopping corridors this property offers an investor the rare opportunity to acquire an income property in a strong rental market in the path or redevelopment. With rents below market, an investor looking to “add value” could dramatically improve their cash flow by upgrading the units, bumping rents up to market rate, and charging/ utilizing the laundry room and thus making this acquisition a valuable addition to any investor’s portfolio.

ALSO FOR SALE - 1136 Hoffman Ave, Long Beach, CA 90813

Last Agent to Sell the Property

Justin White

Justin White License #01267826 Listed on: 03/29/2019

Last Buyer's Agent

Justin White

Justin White License #01267826 Listed on: 03/29/2019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 6,579 Sq Ft Lot
  • Two or More Common Walls

Home Design

  • Property Attached

Interior Spaces

  • 10 Bathrooms
  • 3,926 Sq Ft Home
  • 1-Story Property
  • Laundry Room

Listing and Financial Details

  • Tax Lot 8
  • Tax Tract Number 4496
  • Assessor Parcel Number 7267002008

Community Details

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • Gardener Expense $1,800
  • Insurance Expense $1,767
  • Maintenance Expense $4,213
  • Other Expense $5,969
  • Professional Management Expense $5,274
  • Water Sewer Expense $6,422
  • New Taxes Expense $15,750
  • Operating Expense $41,195
  • Gross Income $102,315
  • Net Operating Income $61,120

Additional Features

  • 12 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • CapRate: 4.37
  • Professional Management Expense: 5274.00
  • Property Attached: Yes
  • Subdivision Name Other: MacArthur Park
  • Water Sewer Expenses: 6422.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 1800.00
  • Parcel Number: 7267002008
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 356.60

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Walkstreet
  • Lot Size Sq Ft: 6579.00
  • Lot Size Acres: 0.1510

Multi Family

  • Gross Income: 102315.00
  • Gross Multiplier: 13.27
  • Gross Scheduled Income: 105480.00
  • Insurance Expense: 1767.00
  • Lot Size Area: 6579.0000 Square Feet
  • Maintenance Expense: 4213.00
  • Net Operating Income: 61120.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Units Total: 12
  • Operating Expense: 41195.00
  • Other Expense: 5969.00
  • Other Expense Description: Misc.
  • Rent Control: No
  • Total Actual Rent: 8790.00
  • Total Expenses: 41195.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 15750.00
  • Tax Census Tract: 5764.02
  • Tax Lot: 8
  • Tax Tract Number: 4496

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
06/26/2019 06/26/19 Sold $1,400,000 0.0% $357 / Sq Ft
03/29/2019 03/29/19 For Sale $1,400,000 -- $357 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Justin White

    Seller's Agent in 2019

    Justin White

    Justin White

    (714) 231-2537

    43 Total Sales

    Justin White
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19070383

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90813 Cambodia Town

1133 Hoffman Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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