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Residential Income - 623 E Broadway, Long Beach, CA

$2,075,000

623 E Broadway, Long Beach, CA

MLS# 26997253

623 E Broadway, Long Beach, CA 90802 - $2,075,000 · 12 ba Multi-Family Home for Sale, photo 1 623 E Broadway, Long Beach, CA 90802 - $2,075,000 · 12 ba Multi-Family Home for Sale, photo 2 623 E Broadway, Long Beach, CA 90802 - $2,075,000 · 12 ba Multi-Family Home for Sale, photo 3 623 E Broadway, Long Beach, CA 90802 - $2,075,000 · 12 ba Multi-Family Home for Sale, photo 4 623 E Broadway, Long Beach, CA 90802 - $2,075,000 · 12 ba Multi-Family Home for Sale, photo 5
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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.

Property details

Bathrooms
12
Square feet
5,020
Year built
1923
Property type
Residential Income
Lot size
3,308 sqft

Location

623 E Broadway • Long Beach, CA 90802

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Listing Agent

Julio Ruiz

DRE #: 01911261

Brokerage: Global Platinum Properties, Inc.

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CRMLS

MLS# 26997253

Listed: 10/5/2026 9:46 AM

© 2026 California Regional Multiple Listing Service, Inc.

Based on information from the California Regional Multiple Listing Service, Inc. as of 10/13/2026 12:14 AM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.

IDX information is provided exclusively for consumers' personal, non-commercial use. Information is deemed reliable but not guaranteed. Buyer should independently verify all information.

Listed by: Global Platinum Properties, Inc.

Equal Housing Opportunity

Advertising Broker: Nalren Corp (CA DRE #02423715)

Licensed in the state of California

Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.

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Nalren Corp. · CA DRE #02423715