1080 Hoffman Ave
Long Beach, CA 90813
Multifamily Property For Sale · 9 Units

Offering a fantastic investment opportunity, priced to sell! 9 Unit, 100% occupied, turnkey, gated apartment building, with instant passive income! Located in a growing, progressive area of Long Beach, 10 blocks from the ocean, walking distance to restaurants, coffee shops, libraries, schools and parks. Purchase price is $2,048,000, 5.52% cap rate, annual rent increases 5%, plus the cost of living percentage or 10 percent, whichever is lower. Park your money here and enjoy! All large one bedroom, one bath units, all new copper plumbing, (15 Year warranty), all new electrical panels and breakers, separately metered for gas and electric, brand new water heater (5 Year warranty), new paint, gutters, tile and laminate flooring throughout. Handyman lives on premises and pays full rent. Current income for 6 parking, (3 spaces and 3 garages), is $450 per month, and/or storage, with an on-site laundry room, (currently not in use), for extra income. Minutes away from major freeways for quick access to Los Angeles and Orange County.