New Quadplex With Detached
For Sale
$1,700,000
Pending
1056 Hoffman, Long Beach, CA 90813
Recently completed income property with varied floor plans, separate utility metering, and finished interiors in Alamitos Beach.
Property Size2,560 SF
Days on Market103
Property Features for 1056 Hoffman
General Information
Standard status
Pending
Size
2,560 SF
Total Parking Spaces
5
Property subtype
Investment
Units
Unit Mix
2 x 2BR/2BA, 2 x 1BR/1BA
Multifamily Units
4
Building Details
Building Size
2,560 SF
Year Built
2026
Buildings
1
Stories
2
Units
4
Listing Agency:
Listed By:
Eric Padilla
Source:
Elliman
Added: May 21
Changed: Aug 30
Last Checked: Aug 30 at 4:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Eric Padilla
Investment Insights
Based on property information with market context.
Completed in 2026, this quadplex contains four finished residences: two 2-bed/2-bath units and two 1-bed/1-bath units. Interior improvements include grey shaker cabinetry, black granite countertops, stainless appliances, and LVP flooring throughout. Each unit is separately metered, and the property includes five detached parking spaces.
The property is located at 1056 Hoffman in Long Beach’s Alamitos Beach area. Walk Score is 87, rated Very Walkable; Bike Score is 59, rated Bikeable; and Transit Score is 50, rated Good Transit. The combination of multiple floor plans, dedicated parking, and new construction provides a clearly defined multifamily configuration.
The property is located at 1056 Hoffman in Long Beach’s Alamitos Beach area. Walk Score is 87, rated Very Walkable; Bike Score is 59, rated Bikeable; and Transit Score is 50, rated Good Transit. The combination of multiple floor plans, dedicated parking, and new construction provides a clearly defined multifamily configuration.
Key Highlights
- 2026 construction with four completed residential units
- Unit mix includes two 2‑bed/2‑bath and two 1‑bed/1‑bath residences
- Five detached parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,841
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,176,820
$1.2M
Cap Rate 7%
$840,586
$840.6K
Cap Rate 9%
$653,789
$653.8K
Market Conditions
NOI Build-Up for 2,560 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$87.6K $34.20/SF
− Vacancy
−$3.5K −$1.36/SF
EGI
$84.1K $32.84/SF
− OpEx
−$25.2K −$9.85/SF
NOI
$58.8K $22.98/SF
Area
ZIP 90813
Vacancy
3.99%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,176,820
Cap Rate 7%
$840,586
Cap Rate 9%
$653,789
Alternative Uses
Best Use
Multifamily LT 5
$840.6K
$735.5K – $980.7K
NOI $58,841 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$774.6K
$677.8K – $903.7K
NOI $54,224 @ 7.0% cap · market cap 3.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,860
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Recently completed income property with varied floor plans, separate utility metering, and finished interiors in Alamitos Beach.
Where is this quadplex located?
The property is located at 1056 Hoffman Long Beach, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 2026 construction with four completed residential units; Unit mix includes two 2‑bed/2‑bath and two 1‑bed/1‑bath residences; Five detached parking spaces
