1212 Hoffman Ave
Long Beach, CA 90813

Bd   Ba   3,910 Sqft   64 Days
**$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
  • $0 HOA
  • $435/Sqft
  • MLS#RS16702787 provided by Andrew McAllister of Nationwide Real Estate Execs
  • Movoto last checked CRMLS for new data 2 hours ago
  • CRMLS last updated this listing 10 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
Exterior
Common Walls: No Common Walls
Building Area Units: Square Feet
Average 2nd Bedroom Area Units: Square Feet
Average Studio Area Units: Square Feet
Number Of Buildings: 1
Average 3rd Bedroom Area Units: Square Feet
Average 1st Bedroom Area Units: Square Feet
Building Area Total: 3910
Number Of Units Total: 12
Amenities / Utilities
Water Sewer Expense: 4200
Electric Expense: 900
Laundry Features: Community
Community Features: Curbs, Gutters, Sidewalks, Street Lighting, Urban
Pool Features: None
Location
Subdivision Name Other: Eastside (ES)
Subdivision Name: Eastside (ES)
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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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Central Long Beach
Long Beach
90813
List Price
Price/Sqft
Homes for Sale
Days on Movoto

List Price

$1.73M

1212 Hoffman Avenue

$319K

Central Long Beach

-24% y/y

Central Long Beach

$285K

90813

-10% y/y

90813

$619K

Long Beach

3% y/y

Long Beach

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Refinance Rates for 1212 Hoffman Avenue, Long Beach

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1212 Hoffman Ave in ZIP code 90813 is a multi family home that was last listed for $1,700,000. This is 496% above the current median of $285,000 for 90813 and 174% above the current median price of $619,894 for the city of Long Beach, CA. As of today, , there are 31 properties listed for sale in the 90813 area and 478 properties listed for sale in Long Beach. Of those 478 properties for sale, 319 are single family homes and 159 are condos. 1212 Hoffman Ave is approximately 3,910 Sqft, 172% above the Long Beach median of 1,440 and 391% above the 90813 ZIP code median of 796. The price per Sqft was $435 which is 24% above the current median price in 90813 of $352 and 2% below the Long Beach median of $445 per Sqft.
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 39 with a median list price of $619,894 and median cost per square foot of $445. Its current status is sold under the MLS #RS16702787.

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