CA > Long Beach
Long Beach, CA 90802,623 E Broadway
Long Beach, CA 90802,623 E Broadway
Long Beach, CA 90802,623 E Broadway
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$1,500,000
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5,020 SqFt
Active

623 E Broadway Long Beach, CA 90802

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Mike & Jules Guzzardo Team With Jenny Biczkow

Mike & Jules Guzzardo Team With Jenny Biczkow

+1(925) 864-5757

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Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 5,020 sqft

Price per Sqft $298

MLS Listing ID CRPW25236421

HOA Y/N No

Year Built 1923

Lot Size 3,308 Sqft

Acres 0.08

Property Sub-Type Other

Property Description

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 11.74% pro forma CAP rate and 5.94 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.

Location

State CA

County Los Angeles

Interior

Fireplace No

Laundry Other

Building

New Construction No

Others

Tax ID 7281014017

Bridge MLS
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Woody Stahl • Lyon Stahl Investment Real Est

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Mike & Jules Guzzardo Team With Jenny Biczkow

Mike & Jules Guzzardo Team With Jenny Biczkow

Realtor | r01066846,01955798,02086289

+1(925) 864-5757

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623 E Broadway

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