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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

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.
More about this property
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