1024 Hoffman Av Long Beach, CA 90813

$1,325,000
Long Beach, CA   90813
0 Beds, 0.0 Baths, 0 sq ft, 8,398 sq ft lot, Built in 1948
1024 Hoffman Av, Long Beach, CA 90813 Photo 0
1024 Hoffman Av, Long Beach, CA 90813 Photo 1
1024 Hoffman Av, Long Beach, CA 90813 Photo 2
1024 Hoffman Av, Long Beach, CA 90813 Photo 3
1024 Hoffman Av, Long Beach, CA 90813 Photo 4
1024 Hoffman Av, Long Beach, CA 90813 Photo 5
1024 Hoffman Av, Long Beach, CA 90813 Photo 6
1024 Hoffman Av, Long Beach, CA 90813 Photo 7
1024 Hoffman Av, Long Beach, CA 90813 Photo 8
1024 Hoffman Av, Long Beach, CA 90813 Photo 9
0 Beds,
0.0 Baths,
0 sq ft,
8,398 sq ft lot
Built in 1948

Description

MLS# SB18077651

Stabilized property with in-place rents at 12.5X gross, actual cap rate of 5.1%. Located just North of Alamitos Beach, only 1 mile to the ocean, close to Downtown Long Beach, the Hoffman Ave apartments offer a rare unit mix with two 4 bedroom units and three 3 bedroom units. The large lot offers two parking spaces per unit for a total of 10 spaces in an extremely parking impacted area. 3 out of 5 units have been extensively renovated with updated kitchens, quartz counters, vinyl plank flooring, and remodeled bathrooms. 4 out of 5 units were built in the 1980's, allowing a low maintenance asset. Freshly painted exterior. Clean, professionally managed building with no deferred maintenance. Dense rental market with low vacancy and strong income. High actual income allows for maximum leverage. Listed by Anthony Walker, Buckingham Investments, Inc.

Description

MLS# SB18077651

Stabilized property with in-place rents at 12.5X gross, actual cap rate of 5.1%. Located just North of Alamitos Beach, only 1 mile to the ocean, close to Downtown Long Beach, the Hoffman Ave apartments offer a rare unit mix with two 4 bedroom units and three 3 bedroom units. The large lot offers two parking spaces per unit for a total of 10 spaces in an extremely parking impacted area. 3 out of 5 units have been extensively renovated with updated kitchens, quartz counters, vinyl plank flooring, and remodeled bathrooms. 4 out of 5 units were built in the 1980's, allowing a low maintenance asset. Freshly painted exterior. Clean, professionally managed building with no deferred maintenance. Dense rental market with low vacancy and strong income. High actual income allows for maximum leverage. Listed by Anthony Walker, Buckingham Investments, Inc.

Area
Building Info
STORIES: 1
COMMON WALLS: 2+ Common Walls
POOL: None
LAUNDRY: None
Exterior Features
LOT: Near Public Transit
Garage & Parking
PARKING SPACES: 10.00
GARAGE SPACES: 0.00
UNCOVERED SPACES: 10.00
Community
HOA DUES 1: 0.00
COMMUNITY: Urban
UNITS TOTAL: 5
STORIES TOTAL: 1
Land
WATER: Public
LOT NUMBER: 18
TRACT NUMBER: CH
ZONE: LBR2N
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