1080 HOFFMAN Avenue, Long Beach, CA 90813

$2,048,000
List Price
$2,048,000
Price Change
▲ $48,000 1580403114
Status
PENDING
MLS#
19509100
Year Built
1956
Lot Size
6,977
Days on Market
156
Property Type
Multifamily

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.

Additional Information

Appliances
Disposal, Gas Cooktop
Garage Spaces Total
3
Total Number of Units
9

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Marilee Haley from Power Brokers International

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.