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    623 E Broadway Long Beach, CA 90802

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    For Sale
    $1,500,000

    12-unit multifamily property in Downtown Long Beach near East Village.

    Lot size:
    0.08 Acres

    Property Features for 623 E Broadway

    General Information

    Lot size
    0.08 Acres

    Building Details

    Year built
    1923

    Source: Lyon Stahl Investment Real Est Agent Woody Stahl

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Long Beach Multifamily Property

    The property at 623 E Broadway St is a 12-unit multifamily property located in Downtown Long Beach, near the East Village Arts District, Alamitos Beach, and the Long Beach Convention Center. The building contains 12 studio units, totaling approximately 5,020 square feet on a 3,308 square foot lot. The property is situated in a walkable area with access to shops, restaurants, and major transit lines. The property offers in-place income, with potential for increased returns.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.184208
    Latitude
    33.769749

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    FAQs

    What type of property is this?
    Apartment building - 12-unit multifamily property in Downtown Long Beach near East Village.
    Where is this apartment building located?
    The property is located at 623 E Broadway Long Beach, CA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Prime Downtown Long Beach location near the East Village Arts District, Alamitos Beach, and the Long Beach Convention Center.; - Strong in-place income with a 6.92% current CAP rate and 8.50 GRM.; - Significant potential for increased returns with a 11.74% pro forma CAP rate and 5.94 GRM based on market rents.
    (310) 425-9838
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    623 E Broadway Long Beach, CA 90802
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    Long Beach, CA 90802
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    623 E Broadway Long Beach, CA 90802
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