Long Beach, CA 90813,1148 Hoffman AVE
Long Beach, CA 90813,1148 Hoffman AVE
Long Beach, CA 90813,1148 Hoffman AVE
Long Beach, CA 90813,1148 Hoffman AVE
Long Beach, CA 90813,1148 Hoffman AVE
Long Beach, CA 90813,1148 Hoffman AVE
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$1,275,000

$1,295,000

1.5%
Est.Price: ?

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Est. payment /mo

6,098 Sqft Lot


SOLD DATE : 10/23/2020

Key Details

Sold Price $1,275,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Poly High (Ph)

MLS Listing ID SB20180574

Sold Date 10/23/20

HOA Y/N No

Year Built 1980

Lot Size 6,098 Sqft

Property Description

Beautifully updated, cash flowing bungalow complex just North of Alamitos Beach. Four free-standing 3 Bed/1 Bath houses on a lot with 4 garages plus storage and laundry. All 4 units have been totally remodeled within the last year including vinyl plank floors, kitchens with granite counters, bathrooms with new tub surrounds and vanities, and two-tone paint. Just completed exterior refresh including designer paint, fresh landscaping, and lighting. Central courtyard creates a secure community feel for residents. High-yield asset at 12.4X gross rents on actuals and a true 5.2% cap rate including vacancy reserve and professional management. Strong rental location just outside of Downtown Long Beach, close to billions in new development, only 1.2 miles to the beach. Three of the bungalows were built in the 1920's, fourth unit built in 1980 per public records.

Location

State CA

County Los Angeles

Area 9 - Poly High

Zoning LBR2N

Interior

Fireplace No

Laundry None

Exterior

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Urban

Total Parking Spaces 5

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 7267001027

Energy Description 651.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Anthony Walker • Buckingham Investments, Inc
Bought with Anthony Walker • Buckingham Investments, Inc
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880 Roosevelt Suite 250, Irvine, California, 92620, United States

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