625 E Broadway Immeuble residentiel 12 lots 2 158 923 € (179 910 €/Lot) Taux de capitalisation 6,49 % Long Beach, CA 90802

625 E Broadway offers a rare opportunity to acquire a well-maintained 12-unit asset in East Village, Long Beach’s most artistic and walkable neighborhood. The property consists of twelve 1-bedroom, 1-bath units across 6,888 square feet, with interiors ranging from 469 to 680 square feet.
Three units are currently vacant and rent-ready, allowing investors to achieve a 6.49 percent cap rate and 10.01 GRM immediately upon lease-up. No renovations or turnover are required.
The pro forma is not speculative, It's immediate! Market rent of $1,695 per month for the vacant units is realistic, supported by surrounding comps and existing tenants. Even at current rents, the asset generates a solid 5.43 percent cap rate and 11.96 GRM with clear upside from day one.
All units are separately metered for electricity. Ownership currently covers water, gas, sewer, and trash. The electrical system has been updated with modern Cutler-Hammer breakers, digital SCE meters, and individual breaker setups per unit. A main service disconnect is also in place for added safety and compliance.
With low historical turnover, strong unit efficiency, and a high-demand location near transit, dining, and the beach, this asset is positioned for steady cash flow and long-term growth. Ideal for a 1031 exchange, long-term holder, or yield-focused investor seeking stability, efficiency, and location-driven demand.