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Listed by Ty Youngblood • Keller Williams Realty
$ 2,495,000
Est. payment /mo
Active
625 East Broadway Long Beach, CA 90802
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID IG-25133090
Year Built 1914
Annual Tax Amount $20,212
Tax Year 2024
Property Sub-Type Multi Family
Property Description
Prime opportunity in East Village, Long Beach's most walkable and artistic neighborhood. 625 E Broadway is a well-maintained 12-unit apartment building consisting entirely of 1-bedroom, 1-bathroom units, individually metered for electricity with updated Cutler-Hammer breaker systems and a main service disconnect. The building spans 6,888 square feet with unit sizes ranging from 469 to 680 sq ft. Three units are currently vacant and rent-ready, allowing investors to realize a 6.49% cap rate and 10.01 GRM immediately upon lease-up -- no renovations or turnover required. Even at in-place rents, the property generates a 5.43% cap rate and 11.96 GRM, with clear upside supported by nearby comps and existing tenants. Located just blocks from the beach, Metro light rail, and major downtown employers, this asset offers low historical turnover, efficient layouts, and strong demand fundamentals. Ownership pays for water, gas, sewer, and trash. Ideal for 1031 exchange buyers, yield-focused investors, or long-term holders seeking stable cash flow and a high-demand location.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Ductless
Inclusions 2 commercial washers, 2 commercial dryers
Laundry Laundry Equipment Own Lease, Community, Dryer Included, Washer Included
Exterior
Utilities Available Sewer Connected, Electricity Connected, Natural Gas Connected
Building
Lot Description Near Public Transit, Park Nearby, 11-15 Units/Acre
Others
Virtual Tour https://player.vimeo.com/video/1069680769?badge=0&autopause=0&player_id=0&app_id=58479