8

1024 HOFFMAN AVE Long Beach, CA 90813

$1,695,000

Bedrooms

Total Baths

Full Baths

3,904

Square Feet

0.19

Acres

1948

Year Built

12 days

On Website

Active

Status

Rare opportunity to purchase a stabilized property at 13.6X gross on actuals plus a 15% upside in rents. Actual in-place cap rate of 4.6% with a super strong rate of 5.5% at market rents. 4 out of 5 units were built in the 1980’s allowing a low maintenance asset. Attractive unit mix with (2) four bedroom units and (3) three bedroom units. Two parking spaces per unit for a total of 10 spaces in an extremely parking impacted area. 4 out of 5 units extensively renovated with updated kitchens, quartz counters, vinyl plank flooring, and remodeled bathrooms. Clean, professionally managed building with no deferred maintenance. High actual income allows for great leverage.

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Details


Interior
Living Area
3,904 SqFt.

Building And Construction
Number Of Units Total
5
Property Sub Type
Multi Family
Property Type
Residential Income
Year Built
1948

Exterior And Lot
Lot Size Acres
0.1928
Lot Size Square Feet
8398
Lot Size Units
Square Feet
Parking Total
10
Zoning
LBR2N

Area And Schools
City
Long Beach
County Or Parish
Los Angeles
Subdivision Name
Alamitos Beach (ab)

Financial Info
Buyer Agency Compensation
2.5%

Listing By Buckingham Investments, Inc – Anthony Walker

MLS# SB21225992

Data Last Updated 9:12AM - 10/24/2021

California Regional MLS

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© 2021 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. Information deemed reliable but not guaranteed. Copyright© 2021 California Regional Multiple Listing Service, Inc. All rights reserved.

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