1080 Hoffman Avenue

    Long Beach, CA 90813
    • $2,048,000
    • STATUS: Pending
    • ON SITE: 162 days
    • ID#: 19509100
    Pending
    UPDATED: 35 min ago
    $2,048,000
    • 9
      BEDS
    • 0.16
      ACRES
    • 9
      BATHS
    • 0
      1/2 BATHS
    • 5,784
      SQFT
    • $354
      $/SQFT
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    Priced to sell! 9 Unit, 100% occupied, turnkey, gated apartment building, with Instant Passive Income! Located in a growing, progressive area of Long Beach, 10 blocks from the ocean, walking distance to restaurants, coffee shops, libraries, schools and parks. Current cap rate is 5.5%, annual rent increases 5%, plus the cost of living percentage or 10%, whichever is lower. Park your money here and enjoy! All large 1 bdrm, 1 bath units, all new copper plumbing (15 year warranty), new water heater, (5 year warranty), all new electric panels and breakers, separately metered for gas and electric, new paint, gutters, tile and laminate flooring throughout. Mos. current rental income $12,397.50 + 6 parking (3 spaces & 3 garages), is $450 per month, and/or storage, for a total monthly income of $12,847.50, with on site laundry room (currently not in use), for extra income. Minutes away from major freeways for quick access to Los Angeles and Orange County.

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    Based on information from CARETS as of 2020-02-20T17:53:44.66. 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: $2,048,000
    • Status: Pending
    • Updated: 35 min ago
    • ID#: 19509100
    9
    Beds
    9
    Baths
    0
    ½ Baths
    0.16
    Acres
    5,784
    SQFT
    $354
    $/SQFT
    1956
    Built
    Neighborhood:
    Downtown Area, Alamitos Beach (4)
    County:
    Los Angeles
    Area:
    Downtown Area, Alamitos Beach (4)
    Property Description
    Priced to sell! 9 Unit, 100% occupied, turnkey, gated apartment building, with Instant Passive Income! Located in a growing, progressive area of Long Beach, 10 blocks from the ocean, walking distance to restaurants, coffee shops, libraries, schools and parks. Current cap rate is 5.5%, annual rent increases 5%, plus the cost of living percentage or 10%, whichever is lower. Park your money here and enjoy! All large 1 bdrm, 1 bath units, all new copper plumbing (15 year warranty), new water heater, (5 year warranty), all new electric panels and breakers, separately metered for gas and electric, new paint, gutters, tile and laminate flooring throughout. Mos. current rental income $12,397.50 + 6 parking (3 spaces & 3 garages), is $450 per month, and/or storage, for a total monthly income of $12,847.50, with on site laundry room (currently not in use), for extra income. Minutes away from major freeways for quick access to Los Angeles and Orange County.
    Exterior Features

    Alley YN N 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 Garage - Three Door 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

    Adjusted Gross Income 154170.00 Buyer Financing Cash To New Loan Cap Rate 5.52 Country United States Of America Expense Insurance 1960.00 Expense Maintenance 4860.00 Expense Management 3600.00 Expense Tax 24000.00 Expense Total Annual 36620.00 Expense Water 2200.00 Garage Income 5400.00 Garage Rental Rate 100.00 Gross Operating Income 149707.00 Gross Rent Multiplier 13.00 Gross Scheduled Income 113087.00 Hoa YN N Legal Disclosures Take Property As IsRent Control Listing Terms Cash To New Loan Lot Size Source Vendor Enhanced Monthly Gross Income 12848.00 Net Operating Income 113087.00 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 1474.00 Unit Monthly Rent04 1300.00 Unit Monthly Rent05 1500.00 Unit Monthly Rent06 1398.50 Unit Monthly Rent07 1300.00 Unit Monthly Rent08 1350.00 Unit Monthly Rent09 1450.00 Unit Projected Total Monthly Rent01 1513.00 Unit Projected Total Monthly Rent02 1513.00 Unit Projected Total Monthly Rent03 1513.00 Unit Projected Total Monthly Rent04 1513.00 Unit Projected Total Monthly Rent05 1513.00 Unit Projected Total Monthly Rent06 1513.00 Unit Projected Total Monthly Rent07 1513.00 Unit Projected Total Monthly Rent08 1513.00 Unit Projected Total Monthly Rent09 1513.00 Unit Total Monthly Rent01 1300.00 Unit Total Monthly Rent02 1325.00 Unit Total Monthly Rent03 1474.00 Unit Total Monthly Rent04 1300.00 Unit Total Monthly Rent05 1500.00 Unit Total Monthly Rent06 1398.50 Unit Total Monthly Rent07 1300.00 Unit Total Monthly Rent08 1350.00 Unit Total Monthly Rent09 1450.00 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 2020-02-20T17:53:44.66. 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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