Search
1024 Hoffman Ave, Long Beach, CA 90813
Image 2 for 1024 Hoffman Ave, Long Beach, CA 90813
Image 3 for 1024 Hoffman Ave, Long Beach, CA 90813
View Photos

1024 Hoffman Ave Long Beach, CA 90813

$1,750,000 Sold Price as of 02/08/2022
  • 17 Beds
  • 5 Baths
  • 3,904 Sq.Ft.
Sold
$1,750,000 Sold Price as of 02/08/2022 Refinance Your Mortgage
Map preview of 1024 Hoffman Ave, Long Beach, CA 90813

Property Overview: 1024 Hoffman Ave Long Beach, CA has 17 bedrooms, 5 bathrooms, 3,904 living square feet and 8,398 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Anthony Walker | BRE #01908153 | Buckingham Investments, Inc
Last checked: 6 minutes ago | Last updated: March 23rd, 2023 | Source CRMLS | DOM: 17

Home details

Lot Sq. Ft
8,398
HOA Dues
$0/mo
Year built
1948
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
SB21225992
City
Long Beach
County
Los Angeles
Time on Site
1073 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,810
  • Total Rent: $1,810
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $2,395
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,099
  • Total Rent: $2,099
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,400
  • Total Rent: $2,400
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,695
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.6%
  • Gross Rent Multiplier: 13.58
  • Gross Scheduled Income: $124,788
  • Net Operating Income: $77,207
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $41,342
  • Electric: $492
  • Gas/Fuel: $492
  • Licenses: $230
  • New Taxes: $21,188
  • Trash: $492
  • Gardener: $1,970
  • Insurance: $2,268
  • Professional Management: $7,113
  • Water/Sewer: $492

Property Details for 1024 Hoffman Ave

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 10
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 5
  • Parcel Number: 7267010010
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Alamitos Beach (AB)
  • Directions: On East side of Hoffman
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Long Beach Agent

Sale History for 1024 Hoffman Ave

Last sold for $1,750,000 on February 8th, 2022

  • February, 2022

  • Feb 9, 2022

    Date

    Sold

    CRMLS: SB21225992

    $1,750,000

    Price

  • Oct 12, 2021

    Date

    Active

    CRMLS: SB21225992

    $1,695,000

    Price

  • May, 2020

  • May 12, 2020

    Date

    Expired

    CRMLS: RS20031086

    $2,695

    Price

  • Feb 12, 2020

    Date

    Active

    CRMLS: RS20031086

    $2,695

    Price

  • Listing provided courtesy of CRMLS

    Enjoy this beautiful 4 bedroom home in the city of Long Beach with a front patio and a backyard! The front house offers a newly remodeled kitchen with a gas stove, new quartz counter tops, new kitchen cabinets and new vinyl click flooring through out the home.Large windows with new blinds and screens in the living room and bedrooms for natural lighting and ceiling fans on all rooms. Two-tone accent paint throughout the home and for your convenience 2 parking spaces available. This is a pet friendly home with a deposit of $500 and a monthly pet rent for $35 for cats and dogs under 15lbs. This location is in the Central Long Beach neighborhood in Long Beach. Nearby parks include Douglas MacArthur Park, California Recreation Center and David Burcham Field.

  • July, 2018

  • Jul 14, 2018

    Date

    Sold

    CRMLS: SB18077651

    $1,310,000

    Price

  • May 4, 2018

    Date

    Active Under Contract

    CRMLS: SB18077651

    $1,325,000

    Price

  • Apr 25, 2018

    Date

    Active

    CRMLS: SB18077651

    $1,325,000

    Price

  • Apr 17, 2018

    Date

    Active Under Contract

    CRMLS: SB18077651

    $1,325,000

    Price

  • Apr 5, 2018

    Date

    Active

    CRMLS: SB18077651

    $1,325,000

    Price

  • Listing provided courtesy of CRMLS

    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.

  • July, 2018

  • Jul 13, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,310,000

    Price

  • September, 2016

  • Sep 16, 2016

    Date

    Sold (Public Records)

    Public Records

    $950,000

    Price

Show More

Tax History for 1024 Hoffman Ave

Assessed Value (2020): $1,336,200
Year Land Value Improved Value Assessed Value
2020 $938,400 $397,800 $1,336,200

Home Value Compared to the Market

This property vs the competition

1024 Hoffman Ave sold on February 8, 2022 for 106.96% 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 $434.17 per/sqft which puts the price per square foot 30.86% lower than the current median sale per square foot for the city of Long Beach.

About 1024 Hoffman Ave

Detailed summary of property

1024 Hoffman Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 17 bedrooms, 5 bathrooms, roughly 3,904 living square feet, and sits on an approximately 8,398 square foot lot. 1024 Hoffman Ave was first listed on ArdentRealEstateGroup.com on October 12, 2021. The homeowner sold the property for $1,750,000. 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 106.96% higher than the current median priced home. Local homes that are currently for sale include 3041 E 5th St, 387 Freeman Ave and 3009 E 3rd St. While the average home in Long Beach, CA is selling in 62 days, 1024 Hoffman Ave has a days on market of 17 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 1024 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 1024 Hoffman Ave

Public county record property details
Beds
10
Baths
5
Year built
1948
Sq. Ft.
3,904
Lot Size
8,398
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
17,18
APN
7267-010-010

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%)

Thinking of Selling?

Image Description
Is this your property?
Thinking of Selling?
Call, Text or Message
(714) 706-1823

Homes for Sale Near 1024 Hoffman Ave

Nearby Homes for Sale

1000 E 10th St, Long Beach, CA 90813
$1,599,000
14 Beds
7 Baths
5340 Sq.Ft.
1000 E 10th St
Long Beach, CA 90813
1052 E 5th St, Long Beach, CA 90802
$1,600,000
10 Beds
5 Baths
3421 Sq.Ft.
1052 E 5th St
Long Beach, CA 90802
1052 E 5th St, Long Beach, CA 90802
$1,600,000
10 Beds
5 Baths
3421 Sq.Ft.
1052 E 5th St
Long Beach, CA 90802
1616 E 4th St, Long Beach, CA 90802
$1,800,000
6 Beds
6 Baths
5300 Sq.Ft.
1616 E 4th St
Long Beach, CA 90802
1817 E 3rd St, Long Beach, CA 90802
$1,600,000
4 Beds
4 Baths
3544 Sq.Ft.
1817 E 3rd St
Long Beach, CA 90802
801 Atlantic Ave, Long Beach, CA 90813
$1,495,000
10 Beds
4 Baths
3312 Sq.Ft.
801 Atlantic Ave
Long Beach, CA 90813
1120 Stanley Ave, Long Beach, CA 90804
$1,450,000
7 Beds
6 Baths
2600 Sq.Ft.
1120 Stanley Ave
Long Beach, CA 90804
1381 Temple Ave, Long Beach, CA 90804
$2,000,000
15 Beds
10 Baths
6300 Sq.Ft.
1381 Temple Ave
Long Beach, CA 90804
1717 Temple Ave, Long Beach, CA 90804
$1,975,000
9 Beds
9 Baths
4746 Sq.Ft.
1717 Temple Ave
Long Beach, CA 90804
1717 Temple Ave, Long Beach, CA 90804
$1,975,000
9 Beds
8 Baths
4746 Sq.Ft.
1717 Temple Ave
Long Beach, CA 90804
219 E 10th St, Long Beach, CA 90813
$1,679,000
6 Beds
5 Baths
4836 Sq.Ft.
219 E 10th St
Long Beach, CA 90813
522 E Rhea St, Long Beach, CA 90806
$1,799,000
15 Beds
7 Baths
4212 Sq.Ft.
522 E Rhea St
Long Beach, CA 90806

Recently Sold Homes Near 1024 Hoffman Ave

1021 Hoffman Ave, Long Beach, CA 90813
$1,255,000 Last Sold Price
8 Beds
4 Baths
3504 Sq.Ft.
1021 Hoffman Ave
Long Beach, CA 90813
1417 E 10th St, Long Beach, CA 90813
$1,270,000 Last Sold Price
8 Beds
4 Baths
2 Sq.Ft.
1417 E 10th St
Long Beach, CA 90813
1033 Hoffman Ave, Long Beach, CA 90813
$2,500,000 Last Sold Price
22 Beds
14 Baths
6356 Sq.Ft.
1033 Hoffman Ave
Long Beach, CA 90813
1441 E 10th St, Long Beach, CA 90813
$840,000 Last Sold Price
2 Beds
4 Baths
1728 Sq.Ft.
1441 E 10th St
Long Beach, CA 90813

Related Resources to 1024 Hoffman Ave

New Listings in 90813
Popular Zip Codes
Popular Cities
Other Long Beach Resources

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.

Refi Quote