$2,195,000
-$55,000623 E Broadway, Long Beach CA 90802
Multi-Family (12 Units)
Property type
58 days
On market
$437
Price per sqft
N/A
Garage
1923
Year built
3,308 sqft
Lot size
Open Houses
Overview
Price Reduction! 12 Renovated Non-Rent Controlled units only ~3 blocks away from the Ocean cash flowing at an amazing Current Cap Rate of 6.1% from day 1 with easily achievable upside to 7.75% Cap Rate on Proforma. Priced at only 182k per unit for a Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) paving a clear way to reach market rents...
Listing provided by: Armin Soleimani DRE #01846872 310-666-2246, Global Platinum Properties, Inc., Julio Ruiz DRE #01911261 818-524-0706, Global Platinum Properties, Inc.
Listing updated: May 11, 2026 at 10:43pm.
Last checked: Jun 5, 2026 at 01:30pm
Source: CRMLS #26684117
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 0 | 1 | — | $1,595 | $1,154 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,149 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,188 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,431 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $0 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,485 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,242 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,585 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,154 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,338 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,458 | $1,595 | Unfurnished |
| 1 | 0 | 1 | — | $1,595 | $1,325 | $1,595 | Unfurnished |
# of Buildings: 1
# of Units Total: 12
Financial Snapshot
Gross Rent Multiplier
11.4x
List Price / Annual Gross Rent
Cap Rate
6.1%
NOI / List Price
Net Operating Income: $133,982
Interior
Interior Features: Ceiling Fans
Heating: Wall Furnace
Exterior
Stories Total: 0
Levels: Two
View: City Lights
Garage and Parking
Parking: On Street
Parking Total: 0
Lot Information
Land Lease: No
Parcel #: 7281014017
Zoning: LBPD30
Community
HOA: No
Senior Community: No
Nearby Schools
Nearby schools around the 623 E Broadway, Long Beach, CA 90802. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$1,756,000
Total Interest
$2,239,681
Total Payment
$3,995,681
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$13,536
per month
Property History for 623 E Broadway
Long Beach Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 90802.
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