USACALong BeachDowntown (Dt)623 E Broadway
Listing image | Image 1

623 E Broadway, Long Beach, CA

House

For Sale

Listed price in listed location currency (USD).
$2,075,000

0120

MLS® 26869467

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 5020 sqft
Garage 
Taxes 
Days Active 61
Lot Size 0.0759 Acres
Approx. Age 1923
Avg. Price Per Sqft $413
MLS® Number 26869467

Property Address: 623 E Broadway, Long Beach, CA, 90802-4729

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number26869467
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1923
Basement
DrivewayOn Street
Garage Spaces
HeatWall Furnace
A/C

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Oct 5, 2026List Date
$2,075,000List Price
-End Date
Not Sold YetSold Price

For Sale

Aug 6, 2026List Date
$2,075,000List Price
Nov 20, 2025End Date
$1,300,000Sold Price

Sold

Oct 9, 2025List Date
$1,500,000List Price
  • Commute

Commute

Starting Address
Destination Address
623 E Broadway, Long Beach, CA

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