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623 E Broadway, Long Beach, CA 90802

Long Beach
Local realty services provided by:CENTURY 21 Valley Properties
623 E Broadway,Long Beach, CA 90802
$2,140,000
  • - Beds
  • 12 Baths
  • 5,020 sq. ft.
  • Multi-family
  • Active
Listed by: julio ruiz
Office: global platinum properties, inc.424-394-1030
MLS#:26869467
Source:CRMLS

Price summary

  • Price:$2,140,000
  • Price per sq. ft.:$426.29

About this home

2nd Price Reduction! 12 Renovated Non-Rent Controlled units only ~3 blocks away from the Ocean cash flowing at an amazing Current Cap Rate of 6.5% from day 1 with easily achievable upside to 8.1% Cap Rate on Proforma. Priced at only 178k per unit for a Non-LA-City rent controlled asset allowing significant 8.7% annual rent increases (5%+CPI) paving a clear way to reach market rents and the 8.1% Proforma Cap Rate in the near future. The property features 12 Spacious and easy to rent studios each with their own separate kitchen and bathrooms. Select units have been upgraded with updated cabinets, flooring, kitchens, bathrooms, as well as exterior improvements including renovated hallways. The property also offers on-site laundry which has been remodeled and generates additional income. Located in the heart of Downtown Long Beach, just steps from the East Village Arts District, Alamitos Beach, the Long Beach Convention Center, Aquarium of the Pacific, Queen Mary, and the Beach! Highly...

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Home facts

  • Year built:1923
  • Listing ID #:26869467
  • Added:1 day(s) ago
  • Updated:August 08, 2026 at 11:12 AM

Rooms and interior

  • Total bathrooms:12
  • Living area:5,020 sq. ft.

Heating and cooling

  • Heating:Wall Furnance

Structure and exterior

  • Year built:1923
  • Building area:5,020 sq. ft.
  • Lot area:0.08 Acres
  • Levels:2 Story

Finances and disclosures

  • Price:$2,140,000
  • Price per sq. ft.:$426.29

Features and amenities

  • Amenities:Ceiling Fans

Parking

  • Parking description:On Street
The information being provided by California Regional MLS (Southern California) is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS (Southern California). CENTURY 21 Valley Properties is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of CENTURY 21 Valley Properties, a broker participant of California Regional MLS (Southern California). 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. The accuracy of all information, regardless of source, including but not limited to open house information, 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 California Regional MLS (Southern California) and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2021 California Regional MLS (Southern California). All rights reserved. CRMLS Member Broker: Anthony Guetzoian

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