1148 Hoffman AVE Long Beach, CA 90813

Beautifully updated, cash flowing bungalow complex just North of Alamitos Beach. Four free-standing 3 Bed/1 Bath houses on a lot with 4 garages plus storage and laundry. All 4 units have been totally remodeled within the last year including vinyl plank floors, kitchens with granite counters, bathrooms with new tub surrounds and vanities, and two-tone paint. Just completed exterior refresh including designer paint, fresh landscaping, and lighting. Central courtyard creates a secure community feel for residents. High-yield asset at 12.4X gross rents on actuals and a true 5.2% cap rate including vacancy reserve and professional management. Strong rental location just outside of Downtown Long Beach, close to billions in new development, only 1.2 miles to the beach. Three of the bungalows were built in the 1920's, fourth unit built in 1980 per public records.