1212 Hoffman Ave
Long Beach, CA 90813

Bd   — Ba   3,910 Sqft
**$96K PRICE REDUCTION - MOTIVATED SELLER** The subject property is an extensively remodeled 12-unit apartment complex located in Eastside Long Beach, CA. Built in 1923, this Spanish style complex features Twelve One Bed / One Bath bungalow style units. Ten of the twelve units have been completely remodeled from top to bottom and rented to quality tenants for $1,195 and $1,095 per month. A new investor can renovate the remaining Two units, as well as install a coin operated washer/dryer to capture an additional $550 per month equating to a 6.36% Cap Rate. Renovations to the Hoffman Bungalows include, but are not limited to new white washed laminate flooring, quartz kitchen counter-tops, ceramic tile back splashes, Italian tile bathroom flooring and stainless steel appliances, new stucco exterior and some upgraded copper plumbing. 6.0% Current Cap Rate & 6.36% Pro Forma Cap Rate
  • Neighborhood: Central Long Beach
  • Days on Movoto: 64
  • Year Built: 1923
  • HOA: $0 HOA
  • $/Sqft: $435
  • Lot: 6,253 Sqft
  • Property Type: Multi Family
  • MLS#: RS16702787
  • MLS:
  • Listing Office: Nationwide Real Estate Execs
  • Listed By: Andrew McAllister
  • Movoto last checked CRMLS for new data 7 hours ago
  • CRMLS last updated this listing 6 months ago
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Property History

Status
Date
Price
Sold
Nov 18, 2016
$1,700,000
Active Under Contract
Oct 7, 2016
Price Change
Sep 25, 2016
$1,729,000
Listed
Sep 15, 2016
$1,825,000
#RS16702787
As of today, there are 19 properties listed for sale in ZIP code 90813 and 463 properties listed for sale in the city of Long Beach, CA. This property at 1212 Hoffman Ave in 90813 was last listed for $1,700,000. This is 183% above the current $599,900 median price for Long Beach and 278% above the median of $450,000 for 90813. Of the 463 properties for sale in Long Beach, 299 are single family homes and 164 are condos. 1212 Hoffman Ave is a multi family home that is approximately 3,910 Sqft, 179% above the Long Beach median of 1,400 and 172% above the 90813 ZIP code median of 1,440. The price per Sqft was $435 which is 22% above the current median price in 90813 of $356 and N/A below the Long Beach median of $435 per square foot.
Built in 1923, this multi family house at 1212 Hoffman Ave, Long Beach CA, 90813 is approximately 3,910 square feet and does not come with a parking spot. It was last listed with a cost per Sqft of $435. 1212 Hoffman Ave is located in the Central Long Beach neighborhood in the Long Beach Unified School District. The closest school is Lincoln Elementary School.

1212 Hoffman Ave, Long Beach CA, 90813 was on the market for 64 days. The median days on the market for properties in this area is 30 with a median list price of $599,900 and median cost per square foot of $435. Its current status is sold under the MLS #RS16702787.

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