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Listed by: Julio Ruiz (818) 524-0706 DRE #01911261 | Global Platinum Properties, Inc. (424) 394-1030
$2,075,000
Monthly Est:$10,328
-- Bed
12 Baths
5,020sqft
623 E Broadway, Long Beach, CA 90802
$2,075,000
$10,328/moEst:
Get Pre-Approved
Multi Family
Built in 1923
$-- HOA
3,308 sqft lot
$413/sq.ft
Description
3rd Price Reduction! 12 Renovated Non-Rent Controlled units only ~3 blocks away from the Ocean cash flowing at an amazing Current Cap Rate of 6.75% from day 1 with easily achievable upside to 8.4% Cap Rate on Proforma. Priced at only $172k 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 8.4% 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 walkable area surrounded by shops, restaurants, and major transit lines, the property combines steady cash flow with exceptional long-term upside in a prime coastal urban corridor.
- Houzeo last checked: 2 hours ago
- Listing updated: October 5, 2026 at 11:49 pm
- Source: California Regional MLS-CA | MLS#: 26997253
Part of
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
Year Built
1923
HOA Fees
-
Finished Area
5,020 sqft
Lot Size
3,308 sqft lot
Basement Area
- sqft
MLS Name
California Regional MLS
MLS Number
26997253
MLS Status
Active
Days on Market
3
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedroom: --
Bathrooms: 12
Interior
Interior Features
Ceiling Fans
Heating
Wall Furnace
Utilities & Energy
Parking Features
On Street
Price History
| Date | Event | Price |
|---|---|---|
08/06/2026 Source: | Off Market | $2,075,000 -3.04% $413/sqft |
08/06/2026 Source: | Listed for Sale | $2,140,000 $426/sqft |
07/06/2026 Source: | Price Decreased | $2,140,000 -2.51% $426/sqft |
06/08/2026 Source: | Listed for Sale | $2,195,000 +2.57% $437/sqft |
06/08/2026 Source: | Off Market | $2,140,000 -4.89% $426/sqft |
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Based on information from California Regional Multiple Listing Service, Inc. as of Oct 09, 2026, 02:30PM and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. © 2026 California Regional Multiple Listing Service. All Rights Reserved.
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