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.

Based on information submitted to CRMLS as of December 15, 2025 7:22 PM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Property Details of 623 E Broadway

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Property Details of 623 E Broadway

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Encino