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Listed by Robert Stepp • Keller Williams - Santa Monica
$3,425,000
Est. payment /mo
7,503 Sqft Lot
New
721 E 7th ST Long Beach, CA 90813
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25065043
Originating Board California Regional MLS
Year Built 1923
Lot Size 7,503 Sqft
Property Description
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.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry None
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 7274020015
Special Listing Condition Not Applicable
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