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1133 Hoffman Ave, Long Beach, CA 90813
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1133 Hoffman Ave Long Beach, CA 90813

$5,325,000
  • 24 Beds
  • 24 Baths
  • 8,722 Sq.Ft.
For Sale
$5,325,000 Get Pre-Qualified
Map preview of 1133 Hoffman Ave, Long Beach, CA 90813

Property Overview: 1133 Hoffman Ave Long Beach, CA has 24 bedrooms, 24 bathrooms, 8,722 living square feet and 12,845 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Skyline Commercial Advisors is pleased to present the opportunity to acquire The Hoffman Apartments, 24 total units comprised of two 12 unit buildings (1133-1136 Hoffman Ave) directly across from each other located in Long Beach, CA. The properties offer (24) 1 bedroom units, majority single story, producing excellent income. Community amenities include on-site laundry for tenants as well as a center courtyard. These buildings have been extensively renovated both on the exterior and interior of the units, including a new roof, electrical systems, flooring, and cabinets. The Hoffman Apartments provides an investor the opportunity to acquire an income producing asset with established rents at current market rates.

Listed by Ryan Pratt | BRE #02179841 | Skyline Commercial Real Estate
Last checked: 7 minutes ago | Last updated: March 29th, 2024 | Source CRMLS | DOM: 65
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Home details

Lot Sq. Ft
12,845
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
NP24031945
City
Long Beach
County
Los Angeles
Time on Site
73 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 24
  • Total # of Buildings: 2
  • # of Electric Meters: 24
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 24
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,679
  • Total Rent: $40,296
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.27%
  • Gross Rent Multiplier: 10.93
  • Gross Scheduled Income: $469,200
  • Net Operating Income: $333,783
  • Gross Operating Income: $472,584
  • Vacancy Allowance: $14,616
  • Laundry Income: $3,600
Annual Expense Breakdown
  • Total Operating Expense: $138,801
  • Gas/Fuel: $0
  • New Taxes: $63,320
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0
  • Other Expenses: $75,481

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Property Details for 1133 Hoffman Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre, 21-25 Units/Acre
  • Lot Size Source: Public Records
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 24
  • Parcel Number: 7267002008
  • Year Built Source: Public Records
  • Entry Level: 1
  • Property is Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Alamitos Beach (AB)
  • Directions: Hoffman Ave and E Anaheim
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 1133 Hoffman Ave

Last sold for $1,400,000 on June 26th, 2019

  • February, 2024

  • Feb 14, 2024

    Date

    Active

    CRMLS: NP24031945

    $5,325,000

    Price

  • June, 2019

  • Jun 26, 2019

    Date

    Sold

    CRMLS: PW19070383

    $1,400,000

    Price

  • May 3, 2019

    Date

    Active Under Contract

    CRMLS: PW19070383

    $1,400,000

    Price

  • Mar 29, 2019

    Date

    Active

    CRMLS: PW19070383

    $1,400,000

    Price

  • Listing provided courtesy of CRMLS

    The subject property is located at 1133 Hoffman Ave, four blocks East of Alamitos Ave. and one blocks South of Anaheim Street. This investment consists of 12 studio bedrooms/one-bathroom units. Built in 1923, this property is a single story, center courtyard style building. With approximately 3,926 rentable square feet, and a lot size of 6,578 sq. ft. and individually metered for gas and electricity the property offers a desirable unit mix. Located within close proximity to numerous restaurants and shopping corridors this property offers an investor the rare opportunity to acquire an income property in a strong rental market in the path or redevelopment. With rents below market, an investor looking to “add value” could dramatically improve their cash flow by upgrading the units, bumping rents up to market rate, and charging/ utilizing the laundry room and thus making this acquisition a valuable addition to any investor’s portfolio. ALSO FOR SALE - 1136 Hoffman Ave, Long Beach, CA 90813

  • June, 2019

  • Jun 25, 2019

    Date

    Sold (Public Records)

    Public Records

    $3,000,000

    Price

  • November, 1996

  • Nov 6, 1996

    Date

    Sold (Public Records)

    Public Records

    $145,000

    Price

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Tax History for 1133 Hoffman Ave

Assessed Value (2020): $1,428,960
Year Land Value Improved Value Assessed Value
2020 $918,000 $510,960 $1,428,960

Home Value Compared to the Market

This property vs the competition

1133 Hoffman Ave is listed 565.62% higher than the median list price for the city of Long Beach which has a median list price of $800,000. The median price per/sqft for Long Beach is $633 and this home is listed at $610.53 per/sqft which puts the price per square foot 3.55% lower than the median price per square foot for the city of Long Beach.

About 1133 Hoffman Ave

Detailed summary of property

1133 Hoffman Ave is a mixed use located in Long Beach, CA 90813 and is currently for sale. This mixed use property offers 24 bedrooms, 24 bathrooms, roughly 8,722 living square feet, and sits on an approximately 12,845 square foot lot. 1133 Hoffman Ave was first listed on ArdentRealEstateGroup.com on February 15, 2024. The homeowner is currently asking $5,325,000. The median priced home in Long Beach is $800,000 with a median price per square foot of $633. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 565.62% higher than the median priced home. Local competing homes currently for sale include 2649 Marengo St, 1141 N Mission Rd and 527 N Anna Dr. While the average home in Long Beach, CA is selling in 56 days, 1133 Hoffman Ave has a days on market of 65 days. There are currently 570 homes for sale in the Long Beach real estate market and 325 of them are single family homes while 233 of them are condos and 12 are townhomes. For more information on this home for sale at 1133 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 1133 Hoffman Ave

Public county record property details
Beds
--
Baths
12
Year built
1923
Sq. Ft.
3,926
Lot Size
6,578
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
7267-002-008

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
$695,000
Median List Price/Sq.Ft.
$563
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$612
Total Inventory
30
Median Sale to List Price %
98.1%
Avg Days on Market
27
Loan Type
Conventional (54.55%), FHA (9.09%), VA (18.18%), Cash (0%), Other (18.18%)

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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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