625 E Broadway, Long Beach, CA 90802

• 6,888 sqft

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.

Listing Status:

Active

Date Added:

June 13, 2025 at 05:00AM

Listing Office:

Keller Williams Realty : 951-271-3000

Listing Agent:

Ty Youngblood : 951-751-1994

MLS ID:

CRIG25133090

Interior

• A/C: Other
• Heating: Other

Construction

• Roofing: Shingle
• General: ConcreteStucco

Location

• County: Los Angeles

Lot

• Zoning: 7281014016

Utilities

• Utilities: Electricity ConnectedNatural Gas Connected

This listing courtesy of Ty Youngblood, Keller Williams Realty