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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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,495,000
Est. payment /mo
5,039 Sqft Lot
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Key Details

Property Type Multi-Family

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

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

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

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California Regional MLS (CRMLS)
Listed by Ty Youngblood • Keller Williams Realty • 951-751-1994

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