Property Detail
Description
Located in Long Beach’s most walkable and artistic neighborhood, 625 E Broadway is a 12-unit apartment building consisting entirely of spacious 1-bedroom, 1-bath units. The property is individually metered for electricity, features updated Cutler-Hammer breaker systems with a main service disconnect, and spans 6,888 square feet with units ranging from 469 to 680 sq ft. Three units are currently vacant and rent-ready, giving investors the ability to achieve a 7.06% cap rate and 9.21 GRM immediately upon lease-up — no renovations or repositioning required. Even at in-place rents, the property produces a 5.28% cap rate and 12.31 GRM, offering both stability and immediate upside. Just blocks from the beach, Metro light rail, and major downtown employers, the location continues to drive strong demand and historically low turnover. Efficient layouts and steady rental fundamentals support both short- and long-term investment strategies. Ownership currently pays for water, gas, sewer, and trash. This asset is ideally positioned for 1031 exchange buyers, yield-focused investors, or long-term holders seeking dependable cash flow in a high-demand market.
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Listing provided courtesy of Ty Youngblood of Keller Williams Realty. Last updated 2025-11-10 09:25:45.000000. Listing information © 2025 CRMLS.
John Collins
DRE# 01948188
888 Prospect St. Suite 140
La Jolla, CA 92037
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858.252.0200
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Address
888 Prospect St. Suite 140 La Jolla CA 92037
Coldwell Banker Realty, CalBRE# 00616212
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