1924 Masonry Duplex
For Sale
$1,550,000
1073-1075 Hoffman Ave, Long Beach, CA 90813
Built in 1924 with masonry construction, this duplex offers updated interiors, hardwood flooring, and ample natural light.
Property Size3,462 SF
Price / SF$447.72
Days on Market98
Property Features for 1073-1075 Hoffman Ave
General Information
Standard status
Active
Size
3,462 SF
Property subtype
Multifamily
Building Details
Building Size
3,462 SF
Year Built
1924
Listing Agency:
Lee & Associates - Long Beach
Listed By:
Joseph Linkogle · License #CalDRE #01212631
(310) 408-4364
Source:
Lee-associates
Added: Jul 11
Changed: Oct 4
Last Checked: Oct 16 at 7:36AM
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 Lee & Associates - Long Beach
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1924-era multifamily property at 1073–1075 Hoffman Avenue offers classic residential character paired with updated finishes. The building features enduring masonry craftsmanship and is described as having well-maintained interiors. Inside, tenants benefit from traditional hardwood flooring and large windows that provide abundant natural light. The layout is presented as well-proportioned for rental stability, with multiple entrances supporting resident privacy and convenience.
With 3,462 square feet of established multifamily living space, the property is positioned as a compact footprint designed for efficient day-to-day management. The exterior is described as low-maintenance, with a sturdy roofing and foundational systems supporting long-term durability.
The offering notes potential for value creation through modest renovation and unit upgrades, making it well-suited for buyers seeking a manageable multifamily asset with historic-style building fundamentals.
With 3,462 square feet of established multifamily living space, the property is positioned as a compact footprint designed for efficient day-to-day management. The exterior is described as low-maintenance, with a sturdy roofing and foundational systems supporting long-term durability.
The offering notes potential for value creation through modest renovation and unit upgrades, making it well-suited for buyers seeking a manageable multifamily asset with historic-style building fundamentals.
Key Highlights
- Built in 1924 with masonry construction and 3,462 SF of established multifamily living space
- Traditional hardwood floors throughout the primary living areas
- Large windows provide abundant natural light in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,573
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,591,460
$1.6M
Cap Rate 7%
$1,136,757
$1.1M
Cap Rate 9%
$884,144
$884.1K
Market Conditions
NOI Build-Up for 3,462 SF
Gross rent
$118.4K $34.20/SF
− Vacancy
−$4.7K −$1.36/SF
EGI
$113.7K $32.84/SF
− OpEx
−$34.1K −$9.85/SF
NOI
$79.6K $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 Rate 5%
$1,591,460
Cap Rate 7%
$1,136,757
Cap Rate 9%
$884,144
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$994.7K – $1.33M
NOI $79,573 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$1.05M
$916.6K – $1.22M
NOI $73,330 @ 7.0% cap · market cap 4.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
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
Frequently Asked Questions
What type of property is this?
Duplex - Built in 1924 with masonry construction, this duplex offers updated interiors, hardwood flooring, and ample natural light.
Where is this duplex located?
The property is located at 1073-1075 Hoffman Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Built in 1924 with masonry construction and 3,462 SF of established multifamily living space; Traditional hardwood floors throughout the primary living areas; Large windows provide abundant natural light in each unit
