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1073 Hoffman Ave 5 Unit Apartment Building $2,155,740 CAD ($431,148 CAD/Unit) 5.13% Cap Rate Long Beach, CA 90813
Investment Highlights
- Detached 4 bedroom Single Family Home with units in the back.
Executive Summary
1073-1075 Hoffman Ave presents a multifamily investment opportunity in Long Beach, California.
The property is legally configured as a 4-unit asset and includes an additional income-producing unit, creating a unique valuation profile that can be reviewed
from both a legal 4-unit perspective and a 5-income-unit operating perspective.
The property consists of approximately 3,462 square feet of building area situated on approximately 6,959 square feet of land. Based on the provided operating information,
the asset generates current annual scheduled gross income of approximately $130,260, with market annual scheduled gross income of approximately $156,600.
At an offering price of $1,550,000, the property reflects a current cap rate of approximately 5.13% and a market cap rate of approximately 6.78%.
The valuation is supported by a blend of comparable 4-unit sales, limited 5-unit comparable sales, and the additional income generated by the 5th unit.
The property is legally configured as a 4-unit asset and includes an additional income-producing unit, creating a unique valuation profile that can be reviewed
from both a legal 4-unit perspective and a 5-income-unit operating perspective.
The property consists of approximately 3,462 square feet of building area situated on approximately 6,959 square feet of land. Based on the provided operating information,
the asset generates current annual scheduled gross income of approximately $130,260, with market annual scheduled gross income of approximately $156,600.
At an offering price of $1,550,000, the property reflects a current cap rate of approximately 5.13% and a market cap rate of approximately 6.78%.
The valuation is supported by a blend of comparable 4-unit sales, limited 5-unit comparable sales, and the additional income generated by the 5th unit.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$180,427
|
$25.79
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,413
|
$0.77
|
| Effective Gross Income |
$175,014
|
$25.02
|
| Taxes |
-
|
-
|
| Operating Expenses |
$64,868
|
$9.27
|
| Total Expenses |
$64,868
|
$9.27
|
| Net Operating Income |
$110,146
|
$15.74
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $180,427 |
| Annual Per SF | $25.79 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,413 |
| Annual Per SF | $0.77 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $175,014 |
| Annual Per SF | $25.02 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $64,868 |
| Annual Per SF | $9.27 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,868 |
| Annual Per SF | $9.27 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $110,146 |
| Annual Per SF | $15.74 |
Property Facts
| Price | $2,155,740 CAD | Building Class | C |
| Price Per Unit | $431,148 CAD | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 6,996 SF |
| Cap Rate | 5.13% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.9 | No. Stories | 1 |
| No. Units | 5 | Year Built/Renovated | 1924/2010 |
| Property Type | Multifamily | Parking Ratio | 0.71/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LBR2N | ||
| Price | $2,155,740 CAD |
| Price Per Unit | $431,148 CAD |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| Gross Rent Multiplier | 11.9 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,996 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1924/2010 |
| Parking Ratio | 0.71/1,000 SF |
| Zoning | LBR2N |
Amenities
Unit Amenities
- Air Conditioning
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 3+2 | 1 | - | - |
| 4+2 | 1 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7267-008-021 | Total Assessment | $697,123 CAD |
| Land Assessment | $494,319 CAD | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $202,804 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
7267-008-021
Land Assessment
$494,319 CAD
Improvements Assessment
$202,804 CAD
Total Assessment
$697,123 CAD
Annual Taxes
$0 CAD ($0.00 CAD/SF)
Tax Year
2025
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1073 Hoffman Ave
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