Freestanding Legal 4-Unit
1073 1075 Hoffman Long Beach, CA 90813
For Sale
$1,550,000
Freestanding property with a main house plus back building containing five units (one non-conforming).
Property Size3,462 SF
Lot Size0.16 Acres
Price / SF$447.72
Days on Market8
Property Features for 1073 1075 Hoffman
General Information
Standard status
Active
Size
3,462 SF
Lot size
0.16 Acres
Property subtype
Commercial
Building Details
Year Built
1924
Listing Agency:
Lee & Associates - Torrance
(310) 965-1754
Listed By:
Tom Torabi · License #00936845
Source:
Elliman
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 28 at 1:15PM
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 - Torrance
Investment Insights
Based on property information with market context.
1073–1075 Hoffman Ave. presents an owner-user and/or investment opportunity featuring a large freestanding single-family home with a second building in the back that houses multiple apartments. The property is legally configured as 4 units, and includes a 5th 2-bedroom/1-bath unit in the back building that is described as legal but non-conforming; it was converted from a storage unit into an apartment.
The building is reported to be in good condition, with new windows, newer roofs, extensively upgraded plumbing, and a concrete driveway. WalkScore is 87 (very walkable), transitScore is 50 (good transit), and bikeScore is 59 (bikeable), supporting day-to-day convenience for tenants.
Overall, this is a freestanding multi-building rental setup with established unit count and documented improvements, including the back-building apartment configuration and conversion noted in the public remarks.
The building is reported to be in good condition, with new windows, newer roofs, extensively upgraded plumbing, and a concrete driveway. WalkScore is 87 (very walkable), transitScore is 50 (good transit), and bikeScore is 59 (bikeable), supporting day-to-day convenience for tenants.
Overall, this is a freestanding multi-building rental setup with established unit count and documented improvements, including the back-building apartment configuration and conversion noted in the public remarks.
Key Highlights
- 1924‑built freestanding property with a main house plus a back building containing five apartment units
- Property is legally 4 units; includes an additional 5th 2 bed/1 bath unit that is legal but non‑conforming
- Back building provides 4 apartment units and the non‑conforming unit; net rentable area is approx. 3,462 SF
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $139.2k | $40.20 |
| − Vacancy | −$5.8k | −$1.69 |
| EGI | $133.3k | $38.51 |
| − OpEx | −$60.0k | −$17.33 |
| NOI | $73.3k | $21.18 |
3,462 SF · lease $40.20/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.6K – $1.22M
NOI $73,330 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.14M
$994.7K – $1.33M
NOI $79,573 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Freestanding property with a main house plus back building containing five units (one non-conforming).
Where is this apartment building located?
The property is located at 1073 1075 Hoffman 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: 1924‑built freestanding property with a main house plus a back building containing five apartment units; Property is legally 4 units; includes an additional 5th 2 bed/1 bath unit that is legal but non‑conforming; Back building provides 4 apartment units and the non‑conforming unit; net rentable area is approx. 3,462 SF
