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623 E Broadway
Long Beach, CA 90802 Downtown Long Beach

$2,250,000 USD

Apartments For Sale  •  6,020 SF

Property Details

  • Property Type Apartments
  • Total Building Size 6,020 SF
  • Lot Size 0.08 AC
  • Building Class C
  • Year Built 1923
  • Cap Rate 6.00 %
  • Zoning PD30, Long Beach
70 Transit Score
90 Walk Score

Highlights

6% Cap Rate with Upside to 7.5% in the Broadway Corridor
Prime 12-Unit Downtown Long Beach Investment at Only $187K per Door
Stabilized Income Today, Enhanced Returns Tomorrow
Compelling pro forma: upside to ~7.52% pro forma cap rate
Renovation progress: many units already remodeled with modern finishes—supporting rent growth while limiting near-term CapEx

Property Flyers

Cap Rate: 6.00 %

Public Transportation

Transit/SubwayDriveWalkDistance
1st Street Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 7 min 0.4 mi
5th Street Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 11 min 0.6 mi
Long Beach Transit Mall (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 12 min 0.6 mi
Pacific Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 14 min 0.7 mi
AirportDriveWalkDistance
Long Beach (Daugherty Field) 11 min - 4.7 mi
John Wayne/Orange County 33 min - 21.1 mi
Los Angeles International 34 min - 22.9 mi
Armin Soleimani 310-666-2246 Global Platinum Properties
Armin Soleimani 310-666-2246 Global Platinum Properties