Freestanding Legal 4-Unit
For Sale
$1,550,000
1073 Hoffman, Long Beach, CA 90813
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 Market102
Property Features for 1073 Hoffman
General Information
Standard status
Active
Size
3,462 SF
Lot size
0.16 Acres
Site & Location
Neighborhood
Aoc7
Additional Details
Multifamily Units
5
Building Details
Year Built
1924
Tenancy
Multi
Listing Agency:
Lee & Associates Commercial Real Estate Services Inc - South Bay
Listed By:
Tom Torabi · License #00936845
(310) 938-9301
Source:
Myfabuloushome
Added: Jul 22
Changed: Oct 25
Last Checked: Oct 7 at 1:27PM
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 Commercial Real Estate Services Inc - South Bay
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$73,330
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,600
$1.5M
Cap Rate 7%
$1,047,571
$1.0M
Cap Rate 9%
$814,778
$814.8K
Market Conditions
NOI Build-Up for 3,462 SF
Gross rent
$139.2K $40.20/SF
− Vacancy
−$5.8K −$1.69/SF
EGI
$133.3K $38.51/SF
− OpEx
−$60.0K −$17.33/SF
NOI
$73.3K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,600
Cap Rate 7%
$1,047,571
Cap Rate 9%
$814,778
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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 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
