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+15624180777
Berkshire Hathaway
623 E Broadway, Long Beach, CA 90802
- $1,300,000
- Sold Price
- $1,300,000
- List Price
- $1,500,000
- Closing Date
- Dec 03, 2025
- Status
- CLOSED
- MLS#
- PW25236421
- Year Built
- 1923
- Lot Size
- 3,308
- Acres
- 0.08
- Lot Location
- 11-15 Units/Acre
- Days on Market
- 41
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Neighborhood
- Downtown (Dt)
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.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 12
- Gross Scheduled Income
- $176,424
- Operating Expense
- 63804
Listing courtesy of Listing Agent: Woody Stahl (broker@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Est.
Listing sold by General NONMEMBER from NONMEMBER MRML
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.