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1033 Hoffman Ave, Long Beach, CA 90813
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1033 Hoffman Ave Long Beach, CA 90813

$2,500,000 Sold Price as of 08/06/2021
  • 22 Beds
  • 14 Baths
  • 6,356 Sq.Ft.
Sold
$2,500,000 Sold Price as of 08/06/2021 Refinance Your Mortgage
Map preview of 1033 Hoffman Ave, Long Beach, CA 90813

Property Overview: 1033 Hoffman Ave Long Beach, CA has 22 bedrooms, 14 bathrooms, 6,356 living square feet and 7,659 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Welcome to 1033 Hoffman! This investment property is very well maintained and operates smoothly month-in and out. It has a great mix of units with (1) 3/2, (1) 3/1, (5) 2/1, and (6) 1/1. Finding good tenants for this property is not an issue due to its beautiful curb appeal, many of the units are upgraded and remodeled, and the location is hard to beat. Located less than 1.5 miles to the ocean gives you wonderful breezes for the tenants to enjoy. The property has received over $200,000.00 in upgrades and remodeling over the last six years, including double-paned vinyl windows throughout, kitchen and bathroom remodels in quite a few of the units, and laminate or vinyl plank flooring in a majority of them. The current ownership maintains the property incredibly well, and it shows when you visit the building. Priced at an attractive GRM of 10.96 at market rents and even a 12.77 GRM at current rents, this investment is a great value. Units are individually metered for gas and electricity further increasing the opportunity for cash-flow to the investor. If you’re looking for a solid investment well-located in a thriving coastal city, look no further!

Listed by Dustin Edwards | BRE #01704406 | Beach Cities Management, Inc.
Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 8

Home details

Lot Sq. Ft
7,659
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW21129380
City
Long Beach
County
Los Angeles
Time on Site
1192 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 13
  • Total # of Buildings: 1
  • # of Leased Units: 12
  • # of Electric Meters: 14
  • # of Gas Meters: 14
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,304
  • Total Rent: $1,304
  • Pro Forma/Market Rent: $1,495
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,295
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,225
  • Total Rent: $1,225
  • Pro Forma/Market Rent: $1,695
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,195
  • Total Rent: $1,195
  • Pro Forma/Market Rent: $1,495
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,695
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $1,695
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,270
  • Total Rent: $1,270
  • Pro Forma/Market Rent: $1,495
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,295
  • Total Rent: $1,295
  • Pro Forma/Market Rent: $1,495
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,295
  • Total Rent: $1,295
  • Pro Forma/Market Rent: $1,495
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,295
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,295
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,295
Unit Breakdown 12
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,040
  • Total Rent: $1,040
  • Pro Forma/Market Rent: $1,295
Unit Breakdown 13
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,295
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 12.77
  • Gross Scheduled Income: $191,928
  • Net Operating Income: $121,975
  • Gross Operating Income: $182,332
  • Vacancy Allowance: $9,596
  • Gross Spendable Income: $182,332
  • Laundry Income: $1,491
  • Laundry Own/Lease: Lease
Annual Expense Breakdown
  • Total Operating Expense: $60,357
  • Electric: $600
  • Gas/Fuel: $0
  • Licenses: $400
  • New Taxes: $30,625
  • Furniture Replacement: $0
  • Trash: $1,496
  • Cable TV: $0
  • Gardener: $0
  • Insurance: $3,077
  • Maintenance: $8,022
  • Professional Management: $11,605
  • Water/Sewer: $4,100

Property Details for 1033 Hoffman Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Landscaped
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 13
  • Parcel Number: 7267008026
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: Unknown
  • Directions: PCH to Alamitos Ave South to 10th Street East to Hoffman North. Building is on your left.
Neighborhood Information
  • Community Features: Curbs
View more facts & features

Local Long Beach Agent

Sale History for 1033 Hoffman Ave

Last sold for $2,500,000 on August 6th, 2021

  • August, 2021

  • Aug 9, 2021

    Date

    Sold

    CRMLS: PW21129380

    $2,500,000

    Price

  • Jun 23, 2021

    Date

    Pending

    CRMLS: PW21129380

    $2,450,000

    Price

  • Jun 15, 2021

    Date

    Active

    CRMLS: PW21129380

    $2,450,000

    Price

  • December, 2015

  • Dec 4, 2015

    Date

    Sold (Public Records)

    Public Records

    $1,320,000

    Price

  • July, 2012

  • Jul 26, 2012

    Date

    Sold (Public Records)

    Public Records

    $1,035,000

    Price

Show More

Tax History for 1033 Hoffman Ave

Assessed Value (2020): $1,429,959
Year Land Value Improved Value Assessed Value
2020 $995,837 $434,122 $1,429,959

Home Value Compared to the Market

This property vs the competition

1033 Hoffman Ave sold on August 6, 2021 for 199.15% 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 $385.46 per/sqft which puts the price per square foot 38.62% lower than the current median sale per square foot for the city of Long Beach.

About 1033 Hoffman Ave

Detailed summary of property

1033 Hoffman Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 22 bedrooms, 14 bathrooms, roughly 6,356 living square feet, and sits on an approximately 7,659 square foot lot. 1033 Hoffman Ave was first listed on ArdentRealEstateGroup.com on June 15, 2021. The homeowner sold the property for $2,500,000. 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 199.15% higher than the current median priced home. Local homes that are currently for sale include 733 Daisy Ave, 386 Mira Mar Ave and 10 Redondo Ave. While the average home in Long Beach, CA is selling in 62 days, 1033 Hoffman Ave has a days on market of 8 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 1033 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 1033 Hoffman Ave

Public county record property details
Beds
7
Baths
14
Year built
1923
Sq. Ft.
6,356
Lot Size
7,659
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
15,17
APN
7267-008-026

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?

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

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Recently Sold Homes Near 1033 Hoffman Ave

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1024 Hoffman Ave, Long Beach, CA 90813
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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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