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0 Beds
12 Baths
5,020 sqft

$2,075,000

623 E Broadway, Long Beach CA, 90802

Price per sqft$413.35
Built in1923
Property size5,020 sqft
Property typeResidential
Listed by Julio Ruiz CA DRE# 01911261 with Global Platinum Properties, Inc. 818-524-0706

Overview

Active

Listed Oct 5, 2026

Updated 42h ago

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.

$13,805/mo

Est. mortgage payment based on a $2,075,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
26997253

Interior Features

Bedrooms
0
Bathrooms
12
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.08 Acres

Other Property Details

View
Yes
55+/Senior Community
No
MLS provider logo

Listed by Julio Ruiz CA DRE# 01911261 with Global Platinum Properties, Inc. 818-524-0706

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/6/2026. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2026 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 10/6/2026 at 4:03 AM UTC Last Checked: 4:03 AM UTC

 

 

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