CA > Long Beach
Long Beach, CA 90802,625 E Broadway
Long Beach, CA 90802,625 E Broadway
Long Beach, CA 90802,625 E Broadway
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$2,300,000
Est. payment /mo
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5,039 Sqft Lot
Active

625 E Broadway Long Beach, CA 90802

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Patrick Fossati

Patrick Fossati

+1(805) 910-0463

UPDATED:

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

CRMLS – RECore
Listed by Ty Youngblood Keller Williams Realty 951-751-1994

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Patrick Fossati

Patrick Fossati

Broker Associate | License ID: 01907255

+1(805) 910-0463

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