721 E. 7th Street is an 16-unit apartment asset located in the East Village Arts District neighborhood of Downtown Long Beach. The property is offered at 10.87 GRM and 5.55% cap rate on current rents. The building in the front of the property was built in 1923, and offers (3) 2BD/1BA units, (8) 1BD/1BA units and (5) studio units. Fifteen (15) of the units have been upgraded with new flooring, paint and modern kitchens and baths. Building improvements include upgraded electrical throughout property. There is ample room to add community laundry facilities in the basement of building. With a Walk Score of 92, the property is in prime East Village Arts District, offering walkability to myriad of employment opportunities as well as all of the shopping, dining, cultural and nightlife amenities in Downtown Long Beach.
Property Details
Price:
$3,425,000
MLS #:
PW25065043
Status:
Active
Baths:
0
Address:
721 E 7th Street
Type:
Residential Income
Subtype:
Commercial/Residential
Subdivision:
Alamitos Beach AB
Neighborhood:
4downtownareaalamitosbeach
City:
Long Beach
Listed Date:
Mar 25, 2025
State:
CA
ZIP:
90813
Lot Size:
7,503 sqft / 0.17 acres (approx)
Year Built:
1923
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Schools
Interior
Exterior
Community Features
Sidewalks
Garage Spaces
0.00
Lot Features
16-20 Units/ Acre
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address721 E 7th Street Long Beach CA
- Area4 – Downtown Area, Alamitos Beach
- SubdivisionAlamitos Beach (AB)
- CityLong Beach
- CountyLos Angeles
- Zip Code90813
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721 E 7th Street
Long Beach, CA
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