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Listed by Ty Youngblood • Keller Williams Realty
$2,495,000
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 $362
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
Prime opportunity in East Village, Long Beach’s most walkable and artistic neighborhood. 625 E Broadway is a well-maintained 12-unit apartment building consisting entirely of 1-bedroom, 1-bathroom units, individually metered for electricity with updated Cutler-Hammer breaker systems and a main service disconnect. The building spans 6,888 square feet with unit sizes ranging from 469 to 680 sq ft. Three units are currently vacant and rent-ready, allowing investors to realize a 6.49% cap rate and 10.01 GRM immediately upon lease-up — no renovations or turnover required. Even at in-place rents, the property generates a 5.43% cap rate and 11.96 GRM, with clear upside supported by nearby comps and existing tenants. Located just blocks from the beach, Metro light rail, and major downtown employers, this asset offers low historical turnover, efficient layouts, and strong demand fundamentals. Ownership pays for water, gas, sewer, and trash. Ideal for 1031 exchange buyers, yield-focused investors, or long-term holders seeking stable cash flow and a high-demand location.
Location
State CA
County Los Angeles
Interior
Heating Other
Cooling Other
Fireplace No
Building
Water Public
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