NOT LISTED FOR SALE

1136 Hoffman Ave Long Beach, CA 90813

Cambodia Town Neighborhood
2 Beds
10 Baths
4,796 Sq Ft
6,266 Sq Ft Lot

Last Sold June 26, 2019

Last sale price $1,600,000 $334 Per Sq Ft

33 Days on Market

Highlights

  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • 3-minute walk to Douglas Macarthur Park

About This Home

As of June 2019

The subject property is a 12 unit multifamily investment located at 1136 Hoffman Ave, four blocks East of Alamitos Ave. and one blocks South of Anaheim Street. This investment consists of 10 studio units and 2 one bedrooms/ one-bathroom units. Built in 1922, this property is a single story, center courtyard style building with second story units above the rear laundry room. With approximately 4796 rentable square feet, and a lot size of 6,266 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 and surrounded by the Federally Identified “Opportunity Zone” Census Tract. 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 - 1133 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 1922

Lot Details

  • 6,266 Sq Ft Lot
  • Two or More Common Walls

Parking

  • On-Street Parking

Home Design

  • 4,796 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Tax Lot 20
  • Tax Tract Number 4496
  • Assessor Parcel Number 7267001029

Community Details

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • Gardener Expense $1,680
  • Insurance Expense $2,158
  • Maintenance Expense $6,586
  • Other Expense $2,503
  • Professional Management Expense $5,385
  • Water Sewer Expense $7,030
  • New Taxes Expense $1,800
  • Operating Expense $43,342
  • Gross Income $10,469
  • Net Operating Income $61,127

Additional Features

  • 12 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

0

Listing Details

  • CapRate: 3.82
  • Professional Management Expense: 5385.00
  • Property Attached: Yes
  • Subdivision Name Other: MacArthur Park
  • Water Sewer Expenses: 7030.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 1680.00
  • Parcel Number: 7267001029
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 333.61

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: No
  • Parking Features: Street

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: 6266.00
  • Lot Size Acres: 0.1438

Multi Family

  • Gross Income: 10469.00
  • Gross Multiplier: 14.86
  • Gross Operating Income: 104469.00
  • Gross Scheduled Income: 107700.00
  • Insurance Expense: 2158.00
  • Lot Size Area: 6266.0000 Square Feet
  • Maintenance Expense: 6586.00
  • Net Operating Income: 61127.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Units Total: 12
  • Operating Expense: 43342.00
  • Other Expense: 2503.00
  • Other Expense Description: Misc.
  • Rent Control: No
  • Total Actual Rent: 8975.00
  • Total Expenses: 43342.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 1800.00
  • Tax Census Tract: 5764.02
  • Tax Lot: 20
  • 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 $1,600,000 0.0% $334 / Sq Ft
03/29/2019 03/29/19 For Sale $1,600,000 -- $334 / 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

    44 Total Sales

    Justin White
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19070437

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

1136 Hoffman Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) 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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