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721 E 7th St
For Sale $3,425,000
$3,425,000
- 16 Units
- Unknown Sq Ft
- 7,503 Sq Ft
- Unknown Cap Rate
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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,425,000 |
| Property Type | Flex Space |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1923 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 7274020015 |
| MLS # | PW25065043 |
| Property ID | 295519521 |
| Lot Sqft | 7,503 |
| Zoning | LBCO |
| Total Units | 16 |
| Days on Market | 256 |
| Original List Price | $3,425,000 |
| Date Updated | August 20, 2025 |
| Date Created | March 25, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $18,122 | $0 |
| Net Income (Yr) | $ 190,092 |
| Cap Rate | 5.55% |
Listing Provided By
Robert Stepp an agent of . Lic #01456379
© 2025 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of August 20, 2025 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT