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1021 Hoffman Avenue, Long Beach, CA 90813

$795,000 Sale Pending

  • For Sale
  • Pending
  • Multi-Family
  • Updated 3 days ago
1021 Hoffman Avenue, Long Beach, CA 90813 View this property at 1021 Hoffman Avenue, Long Beach, CA 90813
1021 Hoffman Avenue Long Beach CA 90813

Property Description

1021 Hoffman Ave, a two story four-unit apartment building located minutes from Downtown Long Beach. This investment presents a stable, low expense opportunity with a 5.16% Cap Rate and 8.75% total return on current income. The unit mix consists of (4) two bedroom and one bath units totaling 3,504 square feet, built on a 7,731 square foot lot. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is a rare opportunity to acquire in a prime
location with true rental upside and stable return.

Full Property Details for 1021 Hoffman Avenue

  • Price: $795,000
  • Status: Pending
  • Type: Multi-Family
  • MLS ID: OC17008623
  • Updated: 5/19/2017
  • Added: 131 day(s) ago

Property History

  • 1021 Hoffman Avenue, Long Beach, CA
  • Listed at $795,000 on 1/12/17

Additional Information

  • Pool Description: None

Parking

  • Garage Spaces: 4

Location

  • Area: 4 - Downtown Area, Alamitos Beach
  • County: Los Angeles
  • Development Name: 4 - Downtown Area, Alamitos Beach
  • Driving Directions: Please do not distub tenants. Make offers subject to inspection.

Utilities

  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 4
  • # Electric Meters: 4

Structural Information

  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 3,504
  • Year Built: 1923

Unit Information

Unit 1

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 2

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 3

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 4

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Lot Features

  • Lot Size Source: Assessor
  • Zoning: LBR2N
  • Lot Description: Near Public Transit

Financial Considerations

  • Price Per Sq. Ft.: $226.88

Listed by Marcus & Millichap RE Invest, Greg Bassirpou

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Estimate the Cost

1021 Hoffman Avenue will cost you if you:

  • Buy it at list price: $
  • Put down a % down payment : $
  • Pay at a interest rate over

  • Pay $ per year in insurance and $ per year in property taxes.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

In the Community

Nearby Schools

1021 Hoffman Avenue, Long Beach, CA 90813 (MLS# OC17008623) is a Multi-Family property with 4 units containing 0 bedrooms and 0 full bathrooms. 1021 Hoffman Avenue is currently listed for $795,000 and was received on January 12, 2017. Want to learn more about 1021 Hoffman Avenue? Do you have questions about finding other Multi-Family real estate for sale in Long Beach? You can browse all Long Beach real estate or contact a Coldwell Banker agent to request more information.

Listed by Marcus & Millichap RE Invest, Greg Bassirpou