NOT LISTED FOR SALE

1212 Hoffman Ave Long Beach, CA 90813

Cambodia Town Neighborhood
1 Bed
1 Bath
3,910 Sq Ft
6,098 Sq Ft Lot

Last Sold September 25, 2018

Last sale price $1,951,000 $499 Per Sq Ft

80 Days on Market

Highlights

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

About This Home

As of September 2018

1212 Hoffman Avenue is a 12-unit multifamily investment property located in Long Beach, one of the premiere housing markets in Southern California. Situated on a 0.14-acre lot, the 3,910 square foot property consists of single-story one-bedroom floor plans averaging over 320 square feet. Built in 1923, 1212 Hoffman Avenue offers amenities including controlled access, security doors, and on-site laundry. The property offers residents with unit upgrades including new appliances, new paint, new countertops, and new flooring. The property is located just over one mile from Downtown Long Beach, the Long Beach Convention Center, and Junipero Beach.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 05/07/2018

Last Buyer's Agent

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 05/07/2018

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 6,098 Sq Ft Lot
  • No Common Walls
  • Landscaped

Interior Spaces

  • 3,910 Sq Ft Home
  • 1-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Listing and Financial Details

  • Tax Lot 16
  • Tax Tract Number 4496
  • Assessor Parcel Number 7267001025

Community Details

Building Details

  • 12 Leased Units
  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • Electric Expense $1,115
  • Fuel Expense $1,115
  • Insurance Expense $4,200
  • Maintenance Expense $8,400
  • Other Expense $9,300
  • Trash Expense $1,115
  • Water Sewer Expense $1,115
  • New Taxes Expense $25,842
  • Operating Expense $52,202
  • Gross Income $162,852
  • Net Operating Income $105,818

Additional Features

  • 12 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Attached: No
  • Water Sewer Expenses: 1115.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7267001025
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 498.98

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 1115.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped
  • Lot Size Sq Ft: 6098.40

Multi Family

  • Electric Expense: 1115.00
  • Fuel Expense: 1115.00
  • Gross Income: 162852.00
  • Gross Operating Income: 158020.00
  • Gross Scheduled Income: 162852.00
  • Insurance Expense: 4200.00
  • Maintenance Expense: 8400.00
  • Net Operating Income: 105818.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Units Leased: 12
  • Number Of Units Total: 12
  • Operating Expense: 52202.00
  • Other Expense: 9300.00
  • Rent Control: No
  • Total Actual Rent: 13421.00
  • Total Expenses: 52202.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 25842.00
  • Tax Census Tract: 5764.02
  • Tax Lot: 16
  • 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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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 Prior Sale
09/25/2018 09/25/18 Sold $1,951,000 -2.2% $499 / Sq Ft
07/26/2018 07/26/18 Pending -- -- --
07/05/2018 07/05/18 Price Changed $1,995,000 -9.3% $510 / Sq Ft
05/07/2018 05/07/18 For Sale $2,200,000 +29.4% $563 / Sq Ft
11/18/2016 11/18/16 Sold $1,700,000 -1.7% $435 / Sq Ft View Prior Sale
09/25/2016 09/25/16 Price Changed $1,729,000 -5.3% $442 / Sq Ft
09/15/2016 09/15/16 For Sale $1,825,000 -- $467 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tyler Leeson

    Seller's Agent in 2018

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    156 Total Sales

    Tyler Leeson
    Section Image

  • A

    Seller's Agent in 2016

    Andrew McAllister

    eXp Realty of Greater L.A

    (562) 423-8134

    17 Total Sales

    Andrew McAllister
    Section Image
  • Kevin King

    Buyer's Agent in 2016

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    41 Total Sales

    Kevin King
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC18107043

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

1212 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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