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1024-1026 Hoffman Ave
Long Beach, CA 90813
Multifamily Property For Sale
·
5 Units
Property Facts
| No. Units | 5 | Building Size | 3,904 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1948 |
| Building Class | C | Parking Ratio | 2.56/1,000 SF |
| Lot Size | 0.19 AC | ||
| Zoning | R2N, Long Beach - Multiple dwelling | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 3,904 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 2.56/1,000 SF |
| Zoning | R2N, Long Beach - Multiple dwelling |
About 1024-1026 HOFFMAN AVE , LONG BEACH, CA 90813
Stabilized property with in-place rents at 12.5X gross, actual cap rate of 5.1%. Located just North of Alamitos Beach, only 1 mile to the ocean, close to Downtown Long Beach, the Hoffman Ave apartments offer a rare unit mix with two 4 bedroom units and three 3 bedroom units. The large lot offers two parking spaces per unit for a total of 10 spaces in an extremely parking impacted area. 3 out of 5 units have been extensively renovated with updated kitchens, quartz counters, vinyl plank flooring, and remodeled bathrooms. 4 out of 5 units were built in the 1980's, allowing a low maintenance asset. Freshly painted exterior. Clean, professionally managed building with no deferred maintenance. Dense rental market with low vacancy and strong income. High actual income allows for maximum leverage.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 3 | $1,723 | - |
| 4+1 | 2 | $1,830 | - |
Property Taxes
| Parcel Number | 7267-010-010 | Improvements Assessment | $652,642 |
| Land Assessment | $1,204,471 | Total Assessment | $1,857,113 |
Property Taxes
