714-745-2708

623 E Broadway, Long Beach, CA 90802

$2,075,000 Approx. USD 0 beds, 12 baths
5,020 sqft

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Marketed By The Keaty Team

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Marketed By The Keaty Team REALTOR® - Sales Associate 714-608-3298 m
714-745-2708 o
Lic#: 01276603
NRDS ID: 187514104
thekeatyteam@bhhscal.com Tustin Office
18302 Irvine Blvd, Suite 240
Tustin, CA 92780
Phone: 714-832-8800
Fax: 949-565-7700

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Listing Agent

Julio Ruiz | ziuroiluj@gmail.com
Lic#: 01911261
Broker: Courtesy of Global Platinum Properties, Inc.
Phone: 818-524-0706

Co Listing Agent

Armin Soleimani | arminsoleimani@gmail.com
Lic#: 01846872
Broker: Courtesy of Global Platinum Properties, Inc.
Phone: 310-666-2246

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 26869467

List price is $2,075,000 Reduced by $65,000 on 9/9/2026

Price: $2,075,000

Beds: 0

Baths: 12

Built in 1923

5,020 sqft

2 stories

0.08 acres

Lot size: 0.0759

County: Los Angeles

Zoning: LBPD30

Interior features: Ceiling Fan(s)

Parking description: On Street

Heating description: Wall Furnace

MLS area: 4 - Downtown Area, Alamitos Beach

Last Updated: 9/9/2026

Days On Market (DOM): 51

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This listing belongs to the 4 - Downtown Area, Alamitos Beach MLS area

Lat/Long: 33.769748, -118.184207.
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