625 E Broadway Long Beach, CA 90802
5,039 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID IG25133090
HOA Y/N No
Year Built 1914
Annual Tax Amount $20,212
Tax Year 2024
Lot Size 5,039 Sqft
Property Sub-Type Multi Family
Property Description
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
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Ductless
Cooling Ductless
Inclusions 2 commercial washers, 2 commercial dryers
Fireplace No
Appliance Dryer, Washer
Laundry Common Area
Exterior
Fence Security
Community Features Park
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected
Roof Type Composition
Building
Lot Description 11-15 Units/Acre, Near Park, Near Public Transit
Story 2
Water Public
Others
Tax ID 7281014016
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Submit
Listing Terms Cash, Cash to New Loan, 1031 Exchange, Submit
Special Listing Condition Standard
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