2545 BroadwayLong Beach, CA 90803

Property Details for 2545 Broadway

Year built

1946

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

10,401 SF

Zone code

LBCNP

Property type

Investment properties

Property subtype

Live-work space

APN

7263-016-014

APU

7263016014

Description

This exceptional mixed-use property, located at 2545 E Broadway in Long Beach, California's desirable Bluff Park area, presents a compelling investment opportunity. The 10,401 square foot building comprises two structures on a 9,446 square foot lot, featuring a blend of residential and commercial space. Currently boasting 100% occupancy with three tenants, the property includes three storefront retail units and seven residential units (two one-bedroom and five two-bedroom apartments). The current Net Operating Income (NOI) stands at $143,186, yielding a 4.77% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $224,178 and a 7.47% cap rate, reflecting substantial value-add potential. Built between 1936 and 1956, the well-maintained buildings offer on-site laundry and a central courtyard. Further upside potential exists through the addition of accessory dwelling units (ADUs), leveraging the existing large storage room and rear garage parking. The property's prime corner location and large unit sizes contribute to its strong appeal. All SB721 inspections are complete. The asking price is $3,000,000, translating to a price per square foot of $288.43. This is a rare chance to acquire a well-positioned, income-producing asset in a thriving Long Beach neighborhood. The property is offered as a gross lease. The Los Angeles County Assessor's Parcel Number (APN) is 7263-016-014.

• CAP approach

  CAP return

  Valuation

  6%

  $2,562,792

  6.5%

  $2,365,655

  7%

  $2,196,679

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,317,711

  Geo Method

  $3,317,711

• Alternative Use

  Use

  Valuation

  Residential

  $2,933,412

  Hospitality

  $2,686,990

  Educational

  $2,235,544

  Medical

  $2,312,428

  Retail

  $3,477,512

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7664

Longitude

-118.162

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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