625 E Broadway Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90802
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,888 sqft
Price per Sqft $333
MLS Listing ID IG25133090
HOA Y/N No
Year Built 1914
Annual Tax Amount $20,212
Tax Year 2024
Lot Size 5,039 Sqft
Acres 0.1157
Property Sub-Type Multi Family
Property Description
Located in Long Beach's most walkable and artistic neighborhood, 625 E Broadway is a 12-unit apartment building consisting entirely of spacious 1-bedroom, 1-bath units. The property is individually metered for electricity, features updated Cutler-Hammer breaker systems with a main service disconnect, and spans 6,888 square feet with units ranging from 469 to 680 sq ft.
Three units are currently vacant and rent-ready, giving investors the ability to achieve a 7.06% cap rate and 9.21 GRM immediately upon lease-up — no renovations or repositioning required. Even at in-place rents, the property produces a 5.28% cap rate and 12.31 GRM, offering both stability and immediate upside.
Just blocks from the beach, Metro light rail, and major downtown employers, the location continues to drive strong demand and historically low turnover. Efficient layouts and steady rental fundamentals support both short- and long-term investment strategies. Ownership currently pays for water, gas, sewer, and trash.
This asset is ideally positioned for 1031 exchange buyers, yield-focused investors, or long-term holders seeking dependable cash flow in a high-demand market.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Ductless
Cooling Ductless
Inclusions 2 commercial washers, 2 commercial dryers
Laundry Community,Dryer Included,Washer Included
Exterior
Fence Security
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected
Roof Type Composition
Building
Lot Description 11-15 Units/Acre,Near Public Transit,Park Nearby
Story 2
Water Public
Others
Acceptable Financing Other
Listing Terms Other
Financing Other
Special Listing Condition Standard
Virtual Tour https://player.vimeo.com/video/1069680769?badge=0&autopause=0&player_id=0&app_id=58479
Lease Land No
Confidential INFO
SIGN ON PROPERTY 1
TERMS 1031 Exchange,Cash,Cash To New Loan,Submit
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Agent
SHOW CONTACT NAME Ty Youngblood
SHOW CONTACT PH 949-229-5515
SHOW INSTRUCTIONS Drive-by only at this time. Please do not disturb tenants. Out of respect for residents, no interior access will be granted without an accepted offer. Listing agent is very flexible and happy to coordinate walkthroughs with proper notice. Call to discuss appointments are easy to arrange post-acceptance.