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1021 Hoffman Ave, Long Beach, CA 90813
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1021 Hoffman Ave Long Beach, CA 90813

$1,255,000 Sold Price as of 09/17/2020
  • 8 Beds
  • 4 Baths
  • 3,504 Sq.Ft.
Sold
$1,255,000 Sold Price as of 09/17/2020 Refinance Your Mortgage
Map preview of 1021 Hoffman Ave, Long Beach, CA 90813

Property Overview: 1021 Hoffman Ave Long Beach, CA has 8 bedrooms, 4 bathrooms, 3,504 living square feet and 7,731 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The Hoffman Avenue Apartments are located in the City of Long Beach. The property offers an attractive unit mix comprised of 100% large two-bedroom/ one-bathroom units totaling 3,504 square feet, situated on a 7,731 square foot lot. The subject property has recently gone through an extensive remodel of the interiors and exterior. Some interior upgrades include but are not limited to new kitchens, new bathrooms, new appliances, new flooring, new windows, and new garage doors. Amenities include patio/deck, ample on-site parking with enclosed garages, and washer/dryer hookups. The subject property is conveniently located minutes away from Downtown Long Beach and the popular Alamitos Beach community, providing residents easy access to not only the beach, but also many employment opportunities and a vibrant nightlife scene. The Hoffman Avenue Apartments offers investors the oppotunity to acquire a stable, turn-key investment with a 5.77% CAP Rate and 11.16% total return on current income.

Listed by Greg Bassirpou | BRE #01365951 | Marcus & Millichap RE Invest
Last checked: 3 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 76

Home details

Lot Sq. Ft
7,731
HOA Dues
$0/mo
Year built
1923
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC20116467
City
Long Beach
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 4
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $8,395
  • Total Rent: $8,395
  • Pro Forma/Market Rent: $9,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.77%
  • Gross Rent Multiplier: 12.66
  • Gross Scheduled Income: $100,740
  • Net Operating Income: $73,506
  • Gross Operating Income: --
  • Vacancy Allowance: $3,022
Annual Expense Breakdown
  • Total Operating Expense: $24,212
  • Electric: $875
  • Gas/Fuel: $875
  • New Taxes: $15,300
  • Trash: $875
  • Insurance: $1,692
  • Water/Sewer: $875

Property Details for 1021 Hoffman Ave

Interior Features
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup, Washer Hookup
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 10
Lot Information
  • Lot Features: Near Public Transit
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 4
  • Parcel Number: 7267008027
  • Year Built Source: Public Records
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Please do not disturb tenants. Make all offers subject to inspection.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 1021 Hoffman Ave

Last sold for $1,255,000 on September 17th, 2020

  • September, 2020

  • Sep 17, 2020

    Date

    Sold

    CRMLS: OC20116467

    $1,255,000

    Price

  • Aug 31, 2020

    Date

    Pending

    CRMLS: OC20116467

    $1,275,000

    Price

  • Jun 16, 2020

    Date

    Active

    CRMLS: OC20116467

    $1,275,000

    Price

  • September, 2020

  • Sep 17, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,255,000

    Price

  • February, 2019

  • Feb 7, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,050,000

    Price

Show More

Tax History for 1021 Hoffman Ave

Assessed Value (2020): $1,071,000
Year Land Value Improved Value Assessed Value
2020 $749,700 $321,300 $1,071,000

Home Value Compared to the Market

This property vs the competition

1021 Hoffman Ave sold on September 17, 2020 for 55.68% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $363.87 per/sqft which puts the price per square foot 42.06% lower than the current median sale per square foot for the city of Long Beach.

About 1021 Hoffman Ave

Detailed summary of property

1021 Hoffman Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 3,504 living square feet, and sits on an approximately 7,731 square foot lot. 1021 Hoffman Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,255,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 55.68% higher than the current median priced home. Local homes that are currently for sale include 1021 Pacific Ave, 332 W 9th St and 1961 Pine Ave. While the average home in Long Beach, CA is selling in 62 days, 1021 Hoffman Ave has a days on market of 76 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 1021 Hoffman Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1021 Hoffman Ave

Public county record property details
Beds
8
Baths
4
Year built
1923
Sq. Ft.
3,504
Lot Size
7,731
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
17,18
APN
7267-008-027

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$560,000
Median List Price/Sq.Ft.
$553
Median Sold Price
$495,000
Median Sold Price/Sq.Ft.
$587
Total Inventory
35
Median Sale to List Price %
99.02%
Avg Days on Market
24
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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