Long Beach, CA 90813,1033 Hoffman AVE
Long Beach, CA 90813,1033 Hoffman AVE
Long Beach, CA 90813,1033 Hoffman AVE
Long Beach, CA 90813,1033 Hoffman AVE
Long Beach, CA 90813,1033 Hoffman AVE
Long Beach, CA 90813,1033 Hoffman AVE
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$2,500,000

$2,450,000

2.0%
Est.Price: ?

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Est. payment /mo

7,840 Sqft Lot


SOLD DATE : 08/06/2021

Key Details

Sold Price $2,500,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Other (Othr)

MLS Listing ID PW21129380

Sold Date 08/06/21

HOA Y/N No

Year Built 1923

Lot Size 7,840 Sqft

Property Description

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!

Location

State CA

County Los Angeles

Area 9 - Poly High

Zoning LBR2N

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Curbs

Private Pool No

Building

Lot Description Landscaped

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7267008026

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Submit

Listing Terms Cash, Cash to New Loan, 1031 Exchange, Submit

Financing Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Dustin Edwards • Beach Cities Management, Inc.
Bought with Jonathan Swire • The Agency

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