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:
  • $/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 8 hours ago
  • CRMLS last updated this listing 2 months ago
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Property History for 1212 Hoffman Ave, Long Beach

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

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Compare Similar Homes for 1212 Hoffman Ave, Long Beach

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500 Molino St #213
  • $1,795,000
  • For Sale

    01/14/2017

  • 1 Bd
  • 1 Ba
  • 3,000 Sqft
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1212 Hoffman Ave
  • $1,700,000
  • Sold

    09/15/2016

  • — Bd
  • — Ba
  • 3,910 Sqft
  • $435/Sqft
  • 6,253 Sqft Lot
  • Built 1923
1212 Hoffman Ave is a multi family home located in 90813 in Long Beach, CA. It was last listed for $1,700,000, which is 330% above the current market median of $395,000 in 90813 and 224% above the market median of $525,000 in Long Beach. 1212 Hoffman Ave is approximately 3,910 Sqft, which is 204% above the median size in Long Beach of 1,287 square feet and 245% above the median size in 90813 of 1,132 square feet. This property's price per Sqft was $435, which is 36% above the current median in 90813 of $321 and 0.5% above the Long Beach median of $433. As of today, , there are 13 properties listed for sale in ZIP code 90813 and 388 properties listed for sale in the city of Long Beach. Of those 388 properties, there are 229 single family houses and 159 condos.
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 for $1,729,000 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 42 with a median list price of $525,000 and median cost per square foot of $433. Its current status is sold under the MLS #RS16702787.

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