About 623 E Broadway
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.
Features of 623 E Broadway
| MLS® # | PW25236421 |
|---|---|
| Price | $1,500,000 |
| Sold Price | $1,300,000 |
| Bathrooms | 1.00 |
| Lot Sqft | 3,308 |
| Acres | 0.08 |
| Year Built | 1923 |
| Type | Residential Income |
| Sub-Type | Mixed Use |
| Status | Closed |
| # Of Units | 12 |
Community Information
| Address | 623 E Broadway |
|---|---|
| Area | 4 - Downtown Area, Alamitos Beach |
| Subdivision | Downtown (DT) |
| City | Long Beach |
| County | Los Angeles |
| Zip Code | 90802 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | None |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Lot Description | ElevenToFifteenUnitsAcre |
|---|
Additional Information
| Date Listed | October 9th, 2025 |
|---|---|
| Date Sold | December 3rd, 2025 |
| Days on Market | 42 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Woody Stahl |
|---|---|
| Office | Lyon Stahl Investment Real Est |