1080 Hoffman Avenue

    Long Beach, CA 90813
    • $2,000,000
    • STATUS: Active
    • ON SITE: 8 days
    • ID#: 19509100
    UPDATED: 24 min ago
    $2,000,000
    • 9
      BEDS
    • 0.16
      ACRES
    • 9
      BATHS
    • 0
      1/2 BATHS
    • 5,784
      SQFT
    • $346
      $/SQFT
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    Power Brokers International is proud to present this well maintained, gated, 9 unit apartment building with excellent cash flow, located at 1080 Hoffman Avenue in Long Beach, CA. 100% Occupancy, all 1 bdrm, 1 bath units, w/copper plumbing, tiled floors throughout, upgraded electrical, separately metered for gas/electric, new paint, gutters, with 6 parking spots, (3 garages & 3 spaces), and/or storage. As well, as a laundry room, currently not in use. Monthly Rental income is: $11,605 + $450 Parking Income = Total Monthly Income of $12,055, w/upside of $25 for each parking space and garage. Close to restaurants, coffee shops, walking distance to schools, libraries and parks. Minutes away from major freeways for quick access to LA and Orange County. This property gives investors an opportunity to acquire a building with add value in a growing, progressive area of downtown Long Beach, adjacent to the highly desirable rental sub-market of Cambodia Town. Sold as is.

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    Based on information from CARETS as of 2019-09-18T23:49:09.137. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.sellbuyla.com/homes/98821374

    1080 Hoffman Avenue Long Beach, CA 90813

    • Price: $2,000,000
    • Status: Active
    • Updated: 24 min ago
    • ID#: 19509100
    9
    Beds
    9
    Baths
    0
    ½ Baths
    0.16
    Acres
    5,784
    SQFT
    $346
    $/SQFT
    1956
    Built
    Neighborhood:
    Downtown Area, Alamitos Beach (4)
    County:
    Los Angeles
    Area:
    Downtown Area, Alamitos Beach (4)
    Property Description
    Power Brokers International is proud to present this well maintained, gated, 9 unit apartment building with excellent cash flow, located at 1080 Hoffman Avenue in Long Beach, CA. 100% Occupancy, all 1 bdrm, 1 bath units, w/copper plumbing, tiled floors throughout, upgraded electrical, separately metered for gas/electric, new paint, gutters, with 6 parking spots, (3 garages & 3 spaces), and/or storage. As well, as a laundry room, currently not in use. Monthly Rental income is: $11,605 + $450 Parking Income = Total Monthly Income of $12,055, w/upside of $25 for each parking space and garage. Close to restaurants, coffee shops, walking distance to schools, libraries and parks. Minutes away from major freeways for quick access to LA and Orange County. This property gives investors an opportunity to acquire a building with add value in a growing, progressive area of downtown Long Beach, adjacent to the highly desirable rental sub-market of Cambodia Town. Sold as is.
    Exterior Features

    Carport Spaces Total 3 Common Walls Attached Construction Frame And Stucco Covered Spaces Total 3 Garage Spaces Total 3.0 Garage Structures Total 3 Number Rented Garages 3 Open Other Spaces Total 3 Parking Spaces Total 6 Parking Type Carport Paved YN Y

    Interior Features

    Appliances Garbage Disposal Bathroom Features Shower And Tub Cooking Appliances Cooktop - Gas Cooling Type Ceiling Fan(S) Heating Fuel Wall Gas Heating Type Wall Gas Number Disposal 9 Number Drapes 9 Number Range 9 Number Refrigerator 9 Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Unfurnished Unit Furnished05 Unfurnished Unit Furnished06 Unfurnished Unit Furnished07 Unfurnished Unit Furnished08 Unfurnished Unit Furnished09 Unfurnished Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 1.0 Unit Number Of Bath04 1.0 Unit Number Of Bath05 1.0 Unit Number Of Bath06 1.0 Unit Number Of Bath07 1.0 Unit Number Of Bath08 1.0 Unit Number Of Bath09 1.0 Unit Number Of Bed01 1 Unit Number Of Bed02 1 Unit Number Of Bed03 1 Unit Number Of Bed04 1 Unit Number Of Bed05 1 Unit Number Of Bed06 1 Unit Number Of Bed07 1 Unit Number Of Bed08 1 Unit Number Of Bed09 1 Water Heaters YN Y

    Property Features

    Actual Annual Gross Rent 139260.00 Actual Gross Annual Income 140447.00 Actual Rent Total 11605.00 Adjusted Gross Income 140447.00 Buyer Financing Cash To New Loan Cap Rate 5.40 Country United States Of America Expense Insurance 1960.00 Expense Maintenance 7450.00 Expense Tax 200000.00 Expense Total Annual 32110.00 Expense Water 2700.00 Garage Income 5400.00 Garage Rental Rate 100.00 Gross Operating Income 140447.00 Gross Rent Multiplier 13.00 Gross Scheduled Income 140447.00 Hoa YN N Legal Disclosures Take Property As IsRent Control Listing Terms Cash To New Loan Lot Size Source Vendor Enhanced Monthly Gross Income 12055.00 Net Operating Income 108337.00 Number Electric Meters 9 Number Gas Meters 9 Number Leased 9 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Public Records Unit Monthly Rent01 1300.00 Unit Monthly Rent02 1325.00 Unit Monthly Rent03 1400.00 Unit Monthly Rent04 1300.00 Unit Monthly Rent05 980.00 Unit Monthly Rent06 1300.00 Unit Monthly Rent07 1300.00 Unit Monthly Rent08 1350.00 Unit Monthly Rent09 1350.00 Unit Projected Total Monthly Rent01 1450.00 Unit Projected Total Monthly Rent02 1450.00 Unit Projected Total Monthly Rent03 1450.00 Unit Projected Total Monthly Rent04 1450.00 Unit Projected Total Monthly Rent05 1450.00 Unit Projected Total Monthly Rent06 1450.00 Unit Projected Total Monthly Rent07 1450.00 Unit Projected Total Monthly Rent08 1450.00 Unit Projected Total Monthly Rent09 1450.00 Unit Total Monthly Rent01 1300.00 Unit Total Monthly Rent02 1325.00 Unit Total Monthly Rent03 1400.00 Unit Total Monthly Rent04 1300.00 Unit Total Monthly Rent05 1450.00 Unit Total Monthly Rent06 1300.00 Unit Total Monthly Rent07 1300.00 Unit Total Monthly Rent08 1350.00 Unit Total Monthly Rent09 1350.00 Unit Type01 1 Unit Type02 1 Unit Type03 1 Unit Type04 1 Unit Type05 1 Units Total In Complex 9 Vacancy Allow Percent 3.0 Zoning Lbr2n

    Listing provided courtesy of Marilee Haley DRE#01721710 of Power Brokers International.


    Based on information from CARETS as of 2019-09-18T23:49:09.137. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
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