CA > Long Beach > Downtown (Dt)
Long Beach, CA 90802,623 E Broadway
Long Beach, CA 90802,623 E Broadway
Long Beach, CA 90802,623 E Broadway
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,500,000
Est. payment /mo
3,306 Sqft Lot
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UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID PW25236421

HOA Y/N No

Year Built 1923

Lot Size 3,306 Sqft

Property Sub-Type Mixed Use

Property Description

623 E Broadway St presents an excellent opportunity to acquire a 12-unit multifamily property in the heart of Downtown Long Beach, just steps from the East Village Arts District, Alamitos Beach, and the Long Beach Convention Center. The property features 12 studio units totaling approximately 5,020 square feet on a 3,308 square foot lot. Priced at just $125,000 per unit and $299 per square foot, this asset offers a highly attractive cost of entry in one of Long Beach's strongest rental markets. With a 6.92% current CAP rate and 8.50 GRM, the property provides strong in-place income, while market rents support a 7.75% pro forma CAP rate and 7.91 GRM, offering clear potential for increased returns. Located in a highly walkable area surrounded by shops, restaurants, and major transit lines, 623 E Broadway St combines steady cash flow with exceptional long-term upside in a prime urban corridor.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Biking

Private Pool No

Building

Lot Description 11-15 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7281014017

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Read Less Info
CRMLS – RECore
Listed by Woody Stahl Lyon Stahl Investment Real Est broker@lyonstahl.com

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