$ 1,500,000
-
$1,500,000
Price -
0
Bed -
1
Bath -
5,020
SqFt
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About the Listing PB20378 - PWSTAWOO,SBLYONBRE
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 Highlights for 623 E Broadway
Status
Active
Days on Site
16
Property Type
Multi-Family
MLS ®
PW25236421
Year Built
1923
Total Square Footage
5,020
Lot/Acreage
0.08
Interior Details
- Bedrooms: 0
- Bathrooms: 1 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 11-15 Units/Acre,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7281014017
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
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Listing Location
Questions About..
623 E Broadway Long Beach, CA 90802
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