For Sale

Listed by Armin Soleimani and Julio C Ruiz from Global Major Properties

Source: Combined LA Westside Multiple Listing Service, Inc #26844923

623 East Broadway, Long Beach, CA, 90802

$2,140,000

12
5020 sq. ft.
3308 sq. ft.

Other

30+ days on the market

What's around 623 East Broadway

About this property

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. 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.

Looking for more information on 623 East Broadway?

Explore comparables, sales history and growth for this property.
Learn more

Contact

Similar properties for sale nearby

For Sale
For Sale
$1,250,000
530 Almond Avenue
Long Beach CA 90802
3
2
Other
Listing courtesy of Compass
For Sale
$3,475,000
1142 E 1st St
Long Beach CA 90802
14
14
8
Other
Listing courtesy of The Agency

Other properties for sale by Global Major Properties

For Sale
$695,000
223 E 74th St
Los Angeles CA 90003
5
4
Other
Listing courtesy of Global Major Properties
For Sale
$3,695,000
5161 South Vermont Avenue
Los Angeles CA 90037
6
21
26
Other
Listing courtesy of Global Major Properties
For Sale
$1,950,000
2325 South Ridgeley Drive
Los Angeles CA 90016
8
16
Other
Listing courtesy of Global Major Properties

Browse properties sold in nearby areas

The multiple listings information is provided by The MLS/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2026 The MLS/CLAW. All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the "DMCA") provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under MLS GRID IDX Rules Updated September 16, 2024 7 U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to: dmca@ratemyagent.com

The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner's behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

© 2026 RateMyAgent