$1,500,000

623 E Broadway, Long Beach, CA 90802

5,020 sqft

other
Built in 1923
3,485sqft lot
—— car garage
$299/sqft
Listed 1 month ago

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.

Listing Status:: Active
Date Added:: October 9, 2025 at 05:00AM
Listing Office:: Lyon Stahl Investment Real Est : 310-425-9838
Listing Agent:: Woody Stahl : 310-425-9838
MLS ID:: CRPW25236421

Laundry: Other

County: Los Angeles

Zoning: 7281014017

This listing courtesy of Woody Stahl, Lyon Stahl Investment Real Est

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

Robert Louis Stevenson Elementary School

515 Lime Ave, Long Beach, CA, 90802

Grades KG-5

0.25 miles away

Franklin Classical Middle School

540 Cerritos Ave, Long Beach, CA, 90802

Grades 6-8

0.46 miles away

Renaissance High School for the Arts

235 E 8th St, Long Beach, CA, 90813

Grades 9-12

0.60 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.