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1148 Hoffman Ave, Long Beach, CA 90813
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1148 Hoffman Ave Long Beach, CA 90813

$1,275,000 Sold Price as of 10/23/2020
  • 12 Beds
  • 4 Baths
  • 2,996 Sq.Ft.
Sold
$1,275,000 Sold Price as of 10/23/2020 Refinance Your Mortgage
Map preview of 1148 Hoffman Ave, Long Beach, CA 90813

Property Overview: 1148 Hoffman Ave Long Beach, CA has 12 bedrooms, 4 bathrooms, 2,996 living square feet and 6,254 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Beautifully updated, cash flowing bungalow complex just North of Alamitos Beach. Four free-standing 3 Bed/1 Bath houses on a lot with 4 garages plus storage and laundry. All 4 units have been totally remodeled within the last year including vinyl plank floors, kitchens with granite counters, bathrooms with new tub surrounds and vanities, and two-tone paint. Just completed exterior refresh including designer paint, fresh landscaping, and lighting. Central courtyard creates a secure community feel for residents. High-yield asset at 12.4X gross rents on actuals and a true 5.2% cap rate including vacancy reserve and professional management. Strong rental location just outside of Downtown Long Beach, close to billions in new development, only 1.2 miles to the beach. Three of the bungalows were built in the 1920's, fourth unit built in 1980 per public records.

Listed by Anthony Walker | BRE #01908153 | Buckingham Investments, Inc
Last checked: 12 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 13

Home details

Lot Sq. Ft
6,254
HOA Dues
$0/mo
Year built
1980
Garage
5 Car
Property Type:
Multi Family
Status
Sold
MLS#
SB20180574
City
Long Beach
County
Los Angeles
Time on Site
1478 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,195
  • Total Rent: $2,195
  • Pro Forma/Market Rent: $2,195
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,045
  • Total Rent: $2,045
  • Pro Forma/Market Rent: $2,195
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,270
  • Total Rent: $2,270
  • Pro Forma/Market Rent: $2,270
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,195
  • Total Rent: $2,195
  • Pro Forma/Market Rent: $2,195
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.2%
  • Gross Rent Multiplier: 12.4
  • Gross Scheduled Income: $104,460
  • Net Operating Income: $67,321
  • Gross Operating Income: $99,237
  • Vacancy Allowance: $4,962
Annual Expense Breakdown
  • Total Operating Expense: $31,916
  • Electric: $651
  • Gas/Fuel: $651
  • Licenses: $500
  • New Taxes: $16,188
  • Trash: $651
  • Gardener: $600
  • Insurance: $1,600
  • Maintenance: $4,962
  • Professional Management: $4,962
  • Water/Sewer: $652

Property Details for 1148 Hoffman Ave

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 5
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 4
  • Parcel Number: 7267001027
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Poly High (PH)
  • Directions: East side of street
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Long Beach Agent

Sale History for 1148 Hoffman Ave

Last sold for $1,275,000 on October 23rd, 2020

  • October, 2020

  • Oct 23, 2020

    Date

    Sold

    CRMLS: SB20180574

    $1,275,000

    Price

  • Oct 15, 2020

    Date

    Pending

    CRMLS: SB20180574

    $1,295,000

    Price

  • Sep 15, 2020

    Date

    Active Under Contract

    CRMLS: SB20180574

    $1,295,000

    Price

  • Sep 2, 2020

    Date

    Active

    CRMLS: SB20180574

    $1,295,000

    Price

  • October, 2020

  • Oct 23, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,275,000

    Price

  • April, 2019

  • Apr 12, 2019

    Date

    Sold

    CRMLS: SB19008799

    $975,000

    Price

  • Mar 17, 2019

    Date

    Pending

    CRMLS: SB19008799

    $995,000

    Price

  • Feb 17, 2019

    Date

    Active Under Contract

    CRMLS: SB19008799

    $995,000

    Price

  • Feb 1, 2019

    Date

    Active

    CRMLS: SB19008799

    $995,000

    Price

  • Jan 28, 2019

    Date

    Active Under Contract

    CRMLS: SB19008799

    $995,000

    Price

  • Jan 11, 2019

    Date

    Active

    CRMLS: SB19008799

    $995,000

    Price

  • Listing provided courtesy of CRMLS

    The highest income at the lowest price in Long Beach! 4 free standing bungalows known as 1148, 1150, 1152 and 1154 Hoffman Ave. There are no common walls and each apartment has a private enclosed garage. These are just minutes from downtown Long Beach. The complex also has an additional storage garage that can generate additional income and common laundry facilities. Each unit is separately metered for electric and gas paid by the tenants. The gated entry opens to a central courtyard. Lots of improvement occurring in the neighborhood. County records show the separate units being built in 1922, 1922, 1923, & 1980. Buyer to verify. All rents are real and taken from property managers report!

  • April, 2019

  • Apr 11, 2019

    Date

    Sold (Public Records)

    Public Records

    $975,000

    Price

  • September, 2018

  • Sep 1, 2018

    Date

    Expired

    CRMLS: SB18050379

    $1,050,000

    Price

  • May 18, 2018

    Date

    Price Change

    CRMLS: SB18050379

    $1,050,000

    Price

  • Apr 12, 2018

    Date

    Active

    CRMLS: SB18050379

    $1,075,000

    Price

  • Apr 10, 2018

    Date

    Hold

    CRMLS: SB18050379

    $1,075,000

    Price

  • Mar 5, 2018

    Date

    Active

    CRMLS: SB18050379

    $1,075,000

    Price

  • Listing provided courtesy of CRMLS

    Great Long Beach investment property just minutes to downtown area. 4 free standing buildings (no common walls) with 4 single private enclosed garages on a street to alley lot . Also it has an additional storage garage which could generate additional income too. Gated entry with a central courtyard. Units are individually metered. Lots of restoration being done in the area. County records show the separate units being built in 1922, 1922, 1923, & 1980. Buyer to verify. All rents are real and taken from property managers report!

Show More

Tax History for 1148 Hoffman Ave

Assessed Value (2020): $994,500
Year Land Value Improved Value Assessed Value
2020 $693,600 $300,900 $994,500

Home Value Compared to the Market

This property vs the competition

1148 Hoffman Ave sold on October 23, 2020 for 58.12% 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 $432.24 per/sqft which puts the price per square foot 31.17% lower than the current median sale per square foot for the city of Long Beach.

About 1148 Hoffman Ave

Detailed summary of property

1148 Hoffman Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 12 bedrooms, 4 bathrooms, roughly 2,996 living square feet, and sits on an approximately 6,254 square foot lot. 1148 Hoffman Ave was first listed on ArdentRealEstateGroup.com on September 2, 2020. The homeowner sold the property for $1,275,000. 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 58.12% higher than the current median priced home. Local homes that are currently for sale include 1021 Pacific Ave, 1961 Pine Ave and 332 W 9th St. While the average home in Long Beach, CA is selling in 62 days, 1148 Hoffman Ave has a days on market of 13 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 1148 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 1148 Hoffman Ave

Public county record property details
Beds
11
Baths
4
Year built
1980
Sq. Ft.
2,996
Lot Size
6,253
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
18
APN
7267-001-027

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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Recently Sold Homes Near 1148 Hoffman Ave

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1080 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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