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Listed by Ty Youngblood • Keller Williams Realty
$2,300,000
Est. payment /mo
6,888 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 6,888 sqft
Price per Sqft $333
MLS Listing ID CRIG25133090
HOA Y/N No
Year Built 1914
Lot Size 5,039 Sqft
Property Sub-Type Comm Ind For Sale
Source Datashare California Regional
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
Interior
Heating Other
Cooling Other
Fireplace No
Building
Water Public
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