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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 7.75% pro forma CAP rate and 7.91 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.
Property Type(s):
Residential Income
| Last Updated | 10/9/2025 | Tract | Downtown (DT) |
|---|---|---|---|
| Year Built | 1923 | Community | 4 - Downtown Area, Alamitos Beach |
| County | Los Angeles |
Additional Details
| AREA | 4 - Downtown Area, Alamitos Beach |
|---|---|
| LOT | 3306 sq ft |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| WATER | Public |
Location
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Listed with Lyon Stahl Investment Real Est
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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