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
  • Property Type: Multi Family
  • MLS#: RS16702787
  • MLS:
  • Listing Office: Nationwide Real Estate Execs
  • Listed By: Andrew McAllister
  • Movoto last checked CRMLS for new data 50 minutes ago
  • CRMLS last updated this listing 8 months ago

Home Features for 1212 Hoffman Avenue , Long Beach

Year Built: 1923
Lot Size Acres: 0.14
Lot Size Square Feet: 6253
Lot Size Units: Square Feet
Lot Size Area: 6253
Price Per Square Foot: 434.78
Tax Lot: 16
Tax Tract Number: 4496
New Taxes Expense: 20984
Parcel Number: 7267001025
Tax Rate: 1.13
Tax Census Tract: 5764.02
Special Listing Conditions: Standard
Standard Status: Closed
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Property History for 1212 Hoffman Avenue, 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

Real Estate Market Statistics for 1212 Hoffman Avenue, Long Beach

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1212 Hoffman Avenue

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List Price
Price/Sqft
Homes for Sale
Days on Movoto

List Price

$1.73M

1212 Hoffman Avenue

$405K

Central Long Beach

-1% y/y

Central Long Beach

$339K

90813

3% y/y

90813

$599K

Long Beach

1% y/y

Long Beach

See all trends for Long Beach
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 401% above the current market median of $339,000 in 90813 and 184% above the market median of $599,000 in Long Beach. 1212 Hoffman Ave is approximately 3,910 square feet, which is 184% above the median size in Long Beach of 1,377 square feet and 290% above the median size in 90813 of 1,002 square feet. This property's price per Sqft was $435, which is 30% above the current median in 90813 of $335 and 0.2% below the Long Beach median of $436. As of today, , there are 21 properties listed for sale in ZIP code 90813 and 473 properties listed for sale in the city of Long Beach. Of those 473 properties, there are 307 single family houses and 166 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 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 40 with a median list price of $599,000 and median cost per square foot of $436. Its current status is sold under the MLS #RS16702787.

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