CA > Long Beach
Long Beach, CA 90802,625 East Broadway
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Long Beach, CA 90802,625 East Broadway
Long Beach, CA 90802,625 East Broadway
Long Beach, CA 90802,625 East Broadway
Long Beach, CA 90802,625 East Broadway
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Nicole Van Parys & Gary Nesen

Nicole Van Parys & Gary Nesen

+1(805) 795-1880
Listed by Ty Youngblood • Keller Williams Realty
$ 2,495,000
Est. payment /mo
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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

agent

Nicole Van Parys & Gary Nesen

License Partners, Private Office Advisors | License ID: 01108944

+1(805) 795-1880

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625 East Broadway