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
MLS Listing ID IG25133090
HOA Y/N No
Year Built 1914
Annual Tax Amount $20,212
Tax Year 2024
Lot Size 5,039 Sqft
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
Fireplace No
Appliance Dryer,Washer
Laundry Common Area
Exterior
Fence Security
Community Features Park
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected
Roof Type Composition
Building
Lot Description 11-15 Units/Acre,Near Park,Near Public Transit
Story 2
Water Public
Others
Tax ID 7281014016
Acceptable Financing Cash,Cash to New Loan,1031 Exchange,Submit
Listing Terms Cash,Cash to New Loan,1031 Exchange,Submit
Special Listing Condition Standard
Virtual Tour https://player.vimeo.com/video/1069680769?badge=0&autopause=0&player_id=0&app_id=58479