Homes for sale - 625 East Broadway, Long Beach, CA 90802

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Daniel Cuevas

daniel@txveteranagent.com +1(661) 878-6782

Listed by Ty Youngblood • Keller Williams Realty

$ 2,495,000

Est. payment | -/mo

Save Virtual Tour

$ 2,495,000

Est. payment | -/mo

Save Virtual Tour

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

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(661) 878-6782

daniel@txveteranagent.com

2626, Cole Avenue, Ste, 300,Dallas, USA

625 East Broadway Long Beach, CA 90802