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1211 Hoffman Avenue

Long Beach, CA 90813
  • $1,800,000
  • STATUS: PENDING
  • ON SITE: 16 Days
  • ID#: PW23006801
Pending
UPDATED: 32 min ago
$1,800,000
  • 10
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Live Auction! Bidding to start from $1,800,000! All income numbers stated here are actual, NOT pro forma. The 4.42 cap rate stated here is based on a possible sales price of $2,300,000, using the actual income and expense numbers stated here, which include estimated property taxes based off a possible sales price of $2,300,000. This excellent investment opportunity includes a building with an open central courtyard and community laundry units. Laundry income is stated here. This investment consists of SIX 2-bedroom, 1-bath units, FIVE 3-bedroom, 1-bath units, and ONE 4-bedroom, 1.5-bath unit. Seller has approved ADU plans to divide this 4-bedroom unit into a 3bdrm, 1bath & 2bdrm, 1bath unit, for a total of 13 units in this building. All units are fully rented with mostly long-term tenants and there are very rarely any vacancies. There is definite upside opportunity in the rental income, check out the current rent roll information. This is a terrific investment opportunity! Live Auction! Bidding to start from $1,800,000! All income numbers stated here are actual, NOT pro forma. The 4.42 cap rate stated here is based on a possible sales price of $2,300,000, using the actual income and expense numbers stated here, which include estimated property taxes based off a possible sales price of $2,300,000. This excellent investment opportunity includes a building with an open central courtyard and community laundry units. Laundry income is stated here. This investment consists of SIX 2-bedroom, 1-bath units, FIVE 3-bedroom, 1-bath units, and ONE 4-bedroom, 1.5-bath unit. Seller has approved ADU plans to divide this 4-bedroom unit into a 3bdrm, 1bath & 2bdrm, 1bath unit, for a total of 13 units in this building. All units are fully rented with mostly long-term tenants and there are very rarely any vacancies. There is definite upside opportunity in the rental income, check out the current rent roll information. This is a terrific investment opportunity!

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
www.lajollaagent.com/homes/136025467
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1211 Hoffman Avenue Long Beach, CA 90813

  • Price: $1,800,000
  • Status: PENDING
  • On Site: 16 Days
  • Updated: 32 min ago
  • ID#: PW23006801
10
Beds
0
Baths
0
½ Baths
0.15
Acres
Neighborhood:
Long Beach (90813)
County:
Los Angeles
Area:
Long Beach (90813)
Property Description
Live Auction! Bidding to start from $1,800,000! All income numbers stated here are actual, NOT pro forma. The 4.42 cap rate stated here is based on a possible sales price of $2,300,000, using the actual income and expense numbers stated here, which include estimated property taxes based off a possible sales price of $2,300,000. This excellent investment opportunity includes a building with an open central courtyard and community laundry units. Laundry income is stated here. This investment consists of SIX 2-bedroom, 1-bath units, FIVE 3-bedroom, 1-bath units, and ONE 4-bedroom, 1.5-bath unit. Seller has approved ADU plans to divide this 4-bedroom unit into a 3bdrm, 1bath & 2bdrm, 1bath unit, for a total of 13 units in this building. All units are fully rented with mostly long-term tenants and there are very rarely any vacancies. There is definite upside opportunity in the rental income, check out the current rent roll information. This is a terrific investment opportunity! Live Auction! Bidding to start from $1,800,000! All income numbers stated here are actual, NOT pro forma. The 4.42 cap rate stated here is based on a possible sales price of $2,300,000, using the actual income and expense numbers stated here, which include estimated property taxes based off a possible sales price of $2,300,000. This excellent investment opportunity includes a building with an open central courtyard and community laundry units. Laundry income is stated here. This investment consists of SIX 2-bedroom, 1-bath units, FIVE 3-bedroom, 1-bath units, and ONE 4-bedroom, 1.5-bath unit. Seller has approved ADU plans to divide this 4-bedroom unit into a 3bdrm, 1bath & 2bdrm, 1bath unit, for a total of 13 units in this building. All units are fully rented with mostly long-term tenants and there are very rarely any vacancies. There is definite upside opportunity in the rental income, check out the current rent roll information. This is a terrific investment opportunity!
Exterior Features

Pool N/K Topography Level

Interior Features

Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1

Property Features

Actual Cap Rate 4.42 Annual Expense Actual 49580 Buildings 1 Cfd Mello Roos Fee 0.0 Cfd Mello Roos Fee Reflects Year Gross Scheduled Income Actual 155820 Home Owners Fees 0.0 Possession Close Of Escrow Sewer Septic Sewer Connected Terms Cash Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 1060.0 Unit2 Rent Actual 1085.0 Unit3 Rent Actual 1075.0 Unit4 Rent Actual 1110.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Harcourts Prime Properties: [IDXCONTACTINFORMATION]. Listing information © 2023 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
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