Michelle Covington
Compass
(323) 416-3171
23 Total Sales
1 in Cambodia Town
$645,000 Price
1136 Hoffman Ave Long Beach, CA 90813
Cambodia Town Neighborhood
2
Beds
10
Baths
4,796
Sq Ft
6,266
Sq Ft Lot
Highlights
- Laundry Facilities
- Long Beach Polytechnic High School Rated A
- 3-minute walk to Douglas Macarthur Park
About This Home
As of June 2019The 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
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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
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
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
Listed on
Mar 29, 2019
Closed on
May 9, 2019
Sold by
R & N Paladines Llc
Bought by
Seller's Agent
Justin White
Justin White
Buyer's Agent
Justin White
Justin White
List Price
$1,600,000
Sold Price
$1,600,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,587,500
Interest Rate
4.1%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 22, 2012
Sold by
Paladines Rodrigo V
Bought by
R & N Paladines Llc
Purchase Details
Closed on
Apr 20, 1999
Sold by
Brown Joseph C
Bought by
Paladines Rodrigo and Paladines Nelly E
Purchase Details
Closed on
Nov 15, 1995
Sold by
Brown Joseph C
Bought by
Brown Joseph C and The Joseph C Brown Living Trust
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Cambodia Town, CA
-
Michelle Covington
-
Albert Soto
Albert Soto
True Inmobiliaria
(657) 279-5316
86 Total Sales
1 in Cambodia Town
$580,000 Price
-
Marvin Phillip
Marvin Phillip
Y Realty
(562) 740-8346
32 Total Sales
2 in Cambodia Town
$1,250,000 Price Range
-
Ken Morin
Ken Morin
Responds QuicklyCentury 21 Masters
(951) 397-2091
20 Total Sales
1 in Cambodia Town
$360,000 Price
-
Dave Chamberlain
Dave Chamberlain
Responds QuicklyTeam Chamberlain Realty Exe.
(657) 239-3671
130 Total Sales
1 in Cambodia Town
$632,500 Price
-
Michelle Carrillo
Michelle Carrillo
Responds QuicklyRealty One Group West
(424) 588-5489
31 Total Sales
1 in Cambodia Town
$750,000 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 |
|---|---|---|---|
| $3,000,000 | Ticor Title Company Of Ca | ||
| R & N Paladines Llc | -- | Accommodation | |
| Paladines Rodrigo | $198,000 | North American Title | |
| Brown Joseph C | -- | -- |
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 |
|---|---|---|---|
| Open | $3,300,000 | ||
| Previous Owner | Long Beach Hoffman St Properties Llc | $2,587,500 | |
| Previous Owner | Paladines Rodrigo | $250,000 |
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 |
|---|---|---|---|---|
| 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
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 | $24,789 | $1,820,522 | $1,137,827 | $682,695 |
| 2025 | $24,789 | $1,784,826 | $1,115,517 | $669,309 |
| 2024 | $23,717 | $1,749,831 | $1,093,645 | $656,186 |
| 2023 | $23,297 | $1,715,521 | $1,072,201 | $643,320 |
| 2022 | $21,880 | $1,681,884 | $1,051,178 | $630,706 |
| 2021 | $21,419 | $1,648,907 | $1,030,567 | $618,340 |
| 2020 | $21,365 | $284,770 | $100,334 | $184,436 |
| 2019 | $5,119 | $279,206 | $98,367 | $180,839 |
| 2018 | $4,912 | $273,751 | $96,439 | $177,312 |
| 2016 | $4,535 | $262,201 | $92,696 | $169,505 |
| 2015 | $4,387 | $258,263 | $91,304 | $166,959 |
| 2014 | $4,426 | $253,205 | $89,516 | $163,689 |
Source: Public Records
Agents Affiliated with this Home
-
Justin White
Seller's Agent in 2019
Justin White
Justin White
(714) 231-2537
37 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19070437
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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