623 E Broadway
Long Beach, CA 90802
0
Bed
0
Bath
5,020Sqft
3,308Sqft(Lot)
Price Reduction! 12 Renovated Non-Rent Controlled units only ~3 blocks away from the Ocean cash flowing at an amazing Current Cap Rate of 6.1% from day 1 with easily achievable upside to 7.75% Cap Rate on Proforma. Priced at only 182k per unit for a Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) paving a clear way to reach market rents and the 7.75% 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 i
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total Bedrooms: 0Bathroom Information
Total Baths: 12 Full Baths: 0 Half Baths: 0 -
Interior Features
Interior Features: Ceiling Fan(s) -
Heating Source
Wall Furnace Has Heating
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Building Information
Year Built: 1923 Building Area Total: 5,020
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Lot Details
Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.0759 -
Lot Size Source: Vendor Enhanced Lot Size Square Feet: 3308
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Listing Price Information
Original List Price: 2,195,000 Listing Contract Date: 2026-04-08 -
Lease Information
Listing Agreement: Seller Reserved
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Tax Information
Parcel Number: 7281014017
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Garage and Parking
Garage Description: On StreetHomeowners Association
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Other Property Info
Source Listing Status: Active Source Neighborhood: 4 - Downtown Area, Alamitos Beach Directions: Located Between Los Anlamitos & Atlantic Ave Zoning: LBPD30 Source Property Type: Residential Income Area: 4 - Downtown Area, Alamitos Beach -
Building and Construction
Property Age: 103 Year Built Source: Vendor Enhanced Total Square Feet Living: 5020 Levels or Stories: Two Building Total Stories: 2
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 1738 E 4th Street #15, Long Beach, CA, 90802 | $279,000 | -- | 1 | 398 | 398 SqFt |
| 1738 E 4th, Long Beach, CA, 90802 | $299,998 | -- | 1 | 397 | 397 SqFt |
| 1820 E 2nd, Long Beach, CA, 90802 | $5,150,000 | -- | -- | 8,130 | 8,130 SqFt |
| 1545 E 4th Street, Long Beach, CA, 90802 | $1,647,300 | 7 | -- | 4,770 | 4,770 SqFt |
| 1427 E 4th, Long Beach, CA, 90802 | $1,999,000 | -- | -- | 5,065 | 5,065 SqFt |
| 1250 E 4th, #8, Long Beach, CA, 90802 | $280,000 | 1 | 1 | 654 | 654 SqFt |
| 1060 E 6th Street, Long Beach, CA, 90802 | $890,000 | 2 | -- | 1,548 | 1,548 SqFt |
| 1042-1048 E Broadway, Long Beach, CA, 90802 | $1,749,000 | -- | -- | 3,576 | 3,576 SqFt |
| 1013 E Appleton #1, Long Beach, CA, 90802 | $415,000 | 2 | 1 | 862 | 862 SqFt |
| 930 E 1st Street #2, Long Beach, CA, 90802 | $310,000 | 1 | 1 | 557 | 557 SqFt |
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ByOwner last updated this listing 06/04/2026 @ 10:48
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