1133 Hoffman Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$2,875,000 USD
562-225-3811
1133 Hoffman Ave, Long Beach, CA for Sale
$2,875,000 USD
Apartments - FOR SALE
1/10
null | 4.82% Cap Rate

1133 Hoffman Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Situated in the desirable 90814 zip code, this property is positioned in a high demand rental market with strong tenant demand.
  • Property has undergone a full modernization in 2023, including new ?ooring, fresh paint, upgraded appliances, and contemporary ?nishes.
  • Featuring one-bedroom one-bath units, this con?guration is ideal for the blue-collar workforce demographic that thrives in the area.
  • While the property has been fully renovated, there remains an opportunity to increase rents to market levels and enhance cash ?ow over time.
  • Long Beach continues to see rising rental rates, making these properties attractive for long-term appreciation and stable occupancy.
  • Originally built in 1923 this building retains its historic charm while offering modern conveniences, attracting a broad tenant base.

OVERVIEW

This 12-unit multifamily property, located in the highly sought-after 90814 zip code of Long Beach, presents a rare opportunity to acquire a fully renovated, turnkey investment in a thriving rental market. Built in 1923, the property has been thoughtfully upgraded in 2023 with new ?ooring, paint, and appliances, ensuring a contemporary living experience while preserving its classic architectural charm. The unit mix consists of one-bedroom, one-bath units, catering to the strong demand from the area’s blue-collar workforce. With historically high occupancy rates and rental growth in Long Beach, these properties provide immediate cash ?ow with the potential for further rent optimization. The building offers operational ef?ciencies and economies of scale for investors. This offering represents an excellent opportunity to acquire stabilized assets in a dynamic and growing market for a seasoned investor or a 1st time buyer looking to expand their portfolio.

FOR SALE DETAILS

PRICE

$2,875,000 USD

PRICE/SF

$732 USD /SF

# OF UNITS

12

PRICE/UNIT

$239,583

CAP RATE

4.82%

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Hoffman Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,579 SF

ZONING

LBR2N

APN/PARCEL ID

7267-002-008

ASK ABOUT THIS PROPERTY

Ryan RayburnCentennial AdvisersMore Info
562-225-3811

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Ryan RayburnCentennial AdvisersMore Info
562-225-3811

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.