623 E Broadway
Long Beach, CA 90802
0
Bed
0
Bath
5,020Sqft
3,308Sqft(Lot)
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. Locat
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Interior Features
Ceiling Fan(s) -
Heating & Cooling
Has Heating: Yes Heating: Wall Furnace
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Building Information
Year Built: 1923Building Area Total: 5020Stories: 2Private Pool: NoView: City Lights
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Lot Information
Main Square Feet: 3308 Lot Size Acres: 0.0759 Lot Size Square Feet: 3,308
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Listing Price Information
Listing Price: $2140000Original Price: $2195000
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Tax Information
Parcel Number: 7281014017
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Virtual Tour
Parking Information
On Street
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Location Information
Direction: Located Between Los Anlamitos & Atlantic Ave
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 1827 E 4th Street, Long Beach, CA, 90802 | $7,400,000 | -- | -- | 15,168 | 15,168 SqFt |
| 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 |
| 1785 E 3rd, Long Beach, CA, 90802 | $2,125,000 | -- | -- | 4,321 | 4,321 SqFt |
| 535 Nebraska, Long Beach, CA, 90802 | $925,000 | 2 | 1 | 1,211 | 1,211 SqFt |
| 1427 E 4th, Long Beach, CA, 90802 | $1,999,000 | 2 | 6 | -- | |
| 530 Almond Avenue, Long Beach, CA, 90802 | $1,250,000 | 3 | -- | 1,962 | 1,962 SqFt |
| 1250 E 4th, #8, Long Beach, CA, 90802 | $280,000 | 1 | 1 | 654 | 654 SqFt |
| 216 Esperanza, Long Beach, CA, 90802 | $1,449,000 | -- | -- | 3,816 | 3,816 SqFt |
| 1311 E 1st #12, Long Beach, CA, 90802 | $409,000 | 1 | 1 | 817 | 817 SqFt |
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ByOwner last updated this listing 07/28/2026 @ 02:40
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