1211 Hoffman Ave

Long Beach, CA 90813

$2,200,000
Last Sold Price
31
Beds
85
Baths
6,993 Sq. Ft.
$315 / Sq. Ft.
6,993
Sq. Ft.
$315
per Sq. Ft.
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Closed 5/11/23
Closed 5/11/23
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a living room filled with furniture and a flat screen tv
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a bathroom with a sink mirror and toilet
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a bedroom with a bed and a closet
a bedroom with a bed and a window
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a utility room with dryer and washer
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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...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!
  1. Listed by Paul Conti • DRE #01007130 • Brokerage DRE #01446803 • Harcourts Prime Properties • 714-418-3427

Property Details for 1211 Hoffman Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
12.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6993
Assessor Parcel Number
7267-002-004
Property Attached YN
false
LISTING UPDATED: 05/12/2023 06:08 AM

Property Details for 1211 Hoffman Avenue

StatusClosed
MLS #PW23006801
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Res Income 2-4 Units
Year Built1923
CountyLos Angeles County
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Location

Listing Courtesy of Harcourts Prime Properties, Paul Conti, DRE #01007130

Sold By Younglewin Advisors, Inc., Shane Young, DRE #01963090

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Building Information for 1211 Hoffman Avenue

Building/Complex1211 Hoffman AveFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1923Building Size-

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage1

$13,623 per month

30 year fixed, 6.15% Interest

Principal and Interest

$10,722

Property Taxes

$2,901

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1211 Hoffman Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $151,145
  • Gross Scheduled Income: $155,820
  • Vacancy Allowance: 4675
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $151,145
  • Net Operating Income: $101,565
  • Laundry Income: $600
  • Cap Rate: 4.42
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $49,580
  • New Taxes Expense: $28,750
  • Fuel Expense: $0
  • Pest Control Expense: $750
  • Electric Expense: $600
  • Insurance Expense: $6,000
  • Professional Management Expense: $0
  • Trash Expense: $6,480
  • Water Sewer Expense: $7,000
  • Total Expenses: $49,580
Tax / Assessment Info
  • Tax Tract Number: 4496
  • Tax Census Tract: 5764.02
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 4
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: Front and Rear
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
Land/Lot Info
  • Lot Features: 11-15 Units/Acre, Level with Street, Lot 6500-9999
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Sewer Paid
  • Sewer/Septic: Sewer Connected
  • Utilities: Sewer Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,060
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,125
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 11
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $575
  • Unit Type Type: 11
Unit 4
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,085
  • Unit Type Type: 12
Unit 5
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,085
  • Unit Type Type: 2
Unit 6
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,075
  • Unit Type Type: 3
Unit 7
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,110
  • Unit Type Type: 4
Unit 8
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,035
  • Unit Type Type: 5
Unit 9
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,110
  • Unit Type Type: 6
Unit 10
  • Unit Type Units Total: 7
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,700
  • Unit Type Type: 7
Unit 11
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $900
  • Unit Type Type: 8
Unit 12
  • Unit Type Units Total: 9
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,075
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 12
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 0

Property History for 1211 Hoffman Avenue

DateEvent & SourcePriceAppreciation
May 11, 2023

Sold

CLAW #PW23006801MR

$2,200,000—
May 11, 2023

Sold

CRMLS #PW23006801

$2,200,000—
May 11, 2023

Sold

SDMLS #PW23006801

$2,200,000—
Jan 26, 2023

Sold (Public Record)

Public Record #1510370677

$2,200,000

+2.5% / yr

Jan 24, 2023

Pending

CRMLS #PW23006801

—
Jan 17, 2023

Pending

SDMLS #PW23006801

—
Jan 17, 2023

Pending

CLAW #PW23006801MR

—
Jan 10, 2023

Listed (Active)

SDMLS #PW23006801

$1,800,000—
Jan 10, 2023

Listed (Active)

CRMLS #PW23006801

$1,800,000—
Jan 10, 2023

Listed (Active)

CLAW #PW23006801MR

$1,800,000—
Jan 7, 2013

Expired

CRMLS #S405961

$1,495,000—
Feb 23, 2006

Sold (Public Record)

Public Record #194250052

$1,460,000

+18.9% / yr

Feb 16, 2006

Expired

CLAW #S405961MR

—
Jul 26, 2005

Listed (Active)

CRMLS #CC232701

$1,495,000—
Jul 26, 2005

Listed (Active)

CLAW #S405961MR

$1,495,000—
Jul 26, 2005

Listed (Active)

CRMLS #S405961

$1,495,000—
Dec 16, 2003

Sold (Public Record)

Public Record #125537249

$1,000,000

+58.7% / yr

Nov 4, 2003

Sold

CRMLS #CC231568

$1,000,000—
Nov 4, 2003

Sold

CLAW #S309472aMR

$1,000,000—
Nov 4, 2003

Sold

CRMLS #S309472

$1,000,000—
Aug 4, 2003

Pending

CLAW #S309472aMR

—
Aug 4, 2003

Pending

CRMLS #S309472

—
Feb 28, 2003

Listed (Active)

CRMLS #CC231568

$1,000,000—
Feb 28, 2003

Listed (Active)

CRMLS #S309472

$1,000,000—
Feb 28, 2003

Listed (Active)

CLAW #S309472aMR

$1,000,000—
Dec 31, 2001

Sold (Public Record)

Public Record #82344261

$405,000

+7.4% / yr

Feb 11, 2000

Sold (Public Record)

Public Record #68513952

$354,000—
DateEvent & SourcePrice
05/11/2023

Sold

CLAW #PW23006801MR

$2,200,000
05/11/2023

Sold

CRMLS #PW23006801

$2,200,000
05/11/2023

Sold

SDMLS #PW23006801

$2,200,000
01/26/2023

Sold (Public Record)

Public Record #1510370677

$2,200,000

+2.5% / yr

01/24/2023

Pending

CRMLS #PW23006801

—
01/17/2023

Pending

SDMLS #PW23006801

—
01/17/2023

Pending

CLAW #PW23006801MR

—
01/10/2023

Listed (Active)

SDMLS #PW23006801

$1,800,000
01/10/2023

Listed (Active)

CRMLS #PW23006801

$1,800,000
01/10/2023

Listed (Active)

CLAW #PW23006801MR

$1,800,000
01/07/2013

Expired

CRMLS #S405961

$1,495,000
02/23/2006

Sold (Public Record)

Public Record #194250052

$1,460,000

+18.9% / yr

02/16/2006

Expired

CLAW #S405961MR

—
07/26/2005

Listed (Active)

CRMLS #CC232701

$1,495,000
07/26/2005

Listed (Active)

CLAW #S405961MR

$1,495,000
07/26/2005

Listed (Active)

CRMLS #S405961

$1,495,000
12/16/2003

Sold (Public Record)

Public Record #125537249

$1,000,000

+58.7% / yr

11/04/2003

Sold

CRMLS #CC231568

$1,000,000
11/04/2003

Sold

CLAW #S309472aMR

$1,000,000
11/04/2003

Sold

CRMLS #S309472

$1,000,000
08/04/2003

Pending

CLAW #S309472aMR

—
08/04/2003

Pending

CRMLS #S309472

—
02/28/2003

Listed (Active)

CRMLS #CC231568

$1,000,000
02/28/2003

Listed (Active)

CRMLS #S309472

$1,000,000
02/28/2003

Listed (Active)

CLAW #S309472aMR

$1,000,000
12/31/2001

Sold (Public Record)

Public Record #82344261

$405,000

+7.4% / yr

02/11/2000

Sold (Public Record)

Public Record #68513952

$354,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1211 Hoffman Avenue

Taxable ValueLand$1,040,400Additions$1,509,560Total$2,549,960
Tax Record2025$34,806 ($2,901 / month)
Home Facts
Total Finished SqFt6,993 SqFtAbove Grade Finished SqFt6,993 SqFtLot Size6,534 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLBR2NCountyLOS ANGELESAPN7267-002-004

Schools near 1211 Hoffman Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Lincoln Elementary School
Public - K to 5
Franklin Classical Middle School
Public - 6 to 8
Polytechnic High School
Public - 9 to 12
Clear Passage Educational Center
Charter - 9 to 12
Rating
School
Distance
Lincoln Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Harcourts Prime Properties, Paul Conti, DRE #01007130

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided 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 CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, 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.