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  • 623 E Broadway

623 E Broadway, Long Beach, CA 90802

$2,140,000 Approx. USD 0 beds, 12 baths
5,020 sqft

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Photo of Lynette Colletta

Lynette Colletta REALTOR® - Sales Associate 949-842-4200 m
949-495-1800 o
949-249-9064 f
Lic#: 00900787
NRDS ID: 205522876
lynette@lynettecolletta.com Text Me
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949-249-9064 f
Lic#: 00900787
NRDS ID: 205522876
lynette@lynettecolletta.com Laguna Niguel Office
30221 Golden Lantern, Ste. A-B
Laguna Niguel, CA 92677
Phone: 949-495-1800
Fax: 949-249-9064
 Laguna Niguel 30221 Golden Lantern, Ste. A-B
Laguna Niguel, CA 92677
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Listing Agent


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

Co Listing Agent


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

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 26844923
List price is $2,140,000 Reduced by $55,000 on 7/7/2026
Price: $2,140,000
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: 7/10/2026

 Days On Market (DOM): 47

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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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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Lynette Colletta

Lynette Colletta REALTOR® - Sales Associate 949-842-4200 m
949-495-1800 o
949-249-9064 f
Lic#: 00900787
NRDS ID: 205522876
lynette@lynettecolletta.com Text Me
Call My Cell
Call My Office
949-249-9064 f
Lic#: 00900787
NRDS ID: 205522876
lynette@lynettecolletta.com
Laguna Niguel Office
30221 Golden Lantern, Ste. A-B
Laguna Niguel, CA 92677
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