REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Robert Stepp • Keller Williams - Santa Monica
$ 3,425,000
Est. payment /mo
Active
721 East 7th Street Long Beach, CA 90813
10,464 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 10,464 sqft
Price per Sqft $327
Subdivision Alamitos Beach
MLS Listing ID PW-25065043
Year Built 1923
Lot Size 7,503 Sqft
Property Sub-Type Commercial/Residential
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
Zoning LBCO
Interior
Laundry None
Exterior
Parking Features Gated
Pool None
Community Features Sidewalks
Building
Lot Description 16-20 Units/Acre
Sewer Public Sewer