623 E Broadway Long Beach, CA 90802
East Village NeighborhoodEstimated payment $13,505/month
Highlights
- City View
- 0.08 Acre Lot
- Ceiling Fan
- Long Beach Polytechnic High School Rated A
About This Home
12 Renovated Non-Rent Controlled units only ~3 blocks away from the Ocean cash flowing at an amazing Current Cap Rate of 6% from day 1 with easily achievable upside to 7.5% Cap Rate on Proforma. Priced at only 187k 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 and the 7.5% 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 Agent
Global Platinum Properties, Inc. License #01846872 Listed on: 04/08/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1923
Parking
- On-Street Parking
Interior Spaces
- 12 Bathrooms
- 5,020 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- City Views
Additional Features
- 3,308 Sq Ft Lot
- Heating System Mounted To A Wall or Window
Community Details
- 12 Units
Listing and Financial Details
- Assessor Parcel Number 7281-014-017
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $16,646 | $1,195,834 | $240,367 | $955,467 |
| 2024 | $16,646 | $1,172,387 | $235,654 | $936,733 |
| 2023 | $16,336 | $1,149,400 | $231,034 | $918,366 |
| 2022 | $15,356 | $1,126,863 | $226,504 | $900,359 |
| 2021 | $14,995 | $1,104,768 | $222,063 | $882,705 |
| 2019 | $14,772 | $1,073,202 | $215,478 | $857,724 |
| 2018 | $14,422 | $1,052,183 | $211,253 | $840,930 |
| 2016 | $13,287 | $1,010,173 | $203,050 | $807,123 |
| 2015 | $12,775 | $995,000 | $200,000 | $795,000 |
| 2014 | -- | $898,864 | $347,947 | $550,917 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/08/2026 04/08/26 | For Sale | $2,250,000 | +73.1% | $448 / Sq Ft | |
| 12/03/2025 12/03/25 | Sold | $1,300,000 | -13.3% | $259 / Sq Ft | View Prior Sale |
| 11/20/2025 11/20/25 | Pending | -- | -- | -- | |
| 10/09/2025 10/09/25 | For Sale | $1,500,000 | +50.8% | $299 / Sq Ft | |
| 07/31/2014 07/31/14 | Sold | $995,000 | -9.5% | $198 / Sq Ft | View Prior Sale |
| 04/09/2014 04/09/14 | Pending | -- | -- | -- | |
| 10/31/2013 10/31/13 | For Sale | $1,100,000 | -- | $219 / Sq Ft |
Source: The MLS
MLS Number: 26684117
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© 2026 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Information is deemed reliable but not guaranteed.
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