623 E Broadway
Long Beach, CA 90802
0
Bed
12
Bath
5,020Sqft
3,308Sqft(Lot)
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. Loc
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Interior Features
CeilingFans -
Heating & Cooling
Has Heating: Yes Heating: WallFurnace
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Building Information
Year Built: 1923Building Area Total: 5020Stories: 2Private Pool: NoView: CityLights
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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: $2075000
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Tax Information
Parcel Number: 7281014017
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Virtual Tour
Parking Information
OnStreet
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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 |
|---|---|---|---|---|---|
| 1805 E 6th, Long Beach, CA, 90802 | $1,675,000 | 7 | 7 | -- | 3,678 Sq. Ft |
| 1317 E 1st, Long Beach, CA, 90802 | $2,100,000 | 4 | 4 | -- | 8,263 Sq. Ft |
| 1131 E 2nd, Long Beach, CA, 90802 | $1,625,000 | 3 | 2 | -- | 4,418 Sq. Ft |
| 1131 E 2nd, Long Beach, CA, 90802 | $1,625,000 | 4 | 4 | 3,284 | 4,418 Sq. Ft |
| 643 Elm Avenue, Long Beach, CA, 90802 | $799,000 | 8 | 4 | -- | 2,351 Sq. Ft |
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Nearby For Sale
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ByOwner last updated this listing 10/06/2026 @ 06:58
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