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721 E 7th St, Long Beach, CA, 90813

14beds
16baths
10,464sqft
$2,795,000
$267price/sqft
$20,084/moest. monthly cost
$803,360/yrincome needed

About This Home

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 8.87 GRM and 6.88% 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.

Getting Around

92
WalkingWalker's Paradise
71
TransitExcellent Transit
86
BikeVery Bikeable

Schools

5/10
Stevenson Elementary SchoolGrades K-50.1 mi
4/10
Franklin Classical Middle SchoolGrades 6-80.3 mi
7/10
Polytechnic High SchoolGrades 9-120.8 mi

Construction

Condition

  • Year built: 1923

Type & Style

  • Home type: MultiFamily
  • Property subType: Multi Family

Interior

Appliances

  • Laundry features: None

Bedrooms & Bathrooms

  • Bedrooms: 14
  • Bathrooms: 16

Features

  • Common walls with other units/homes: 2+ Common Walls

Interior Area

  • Total structure area: 10,464
  • Total interior livable area: 10,464 sqft

Property

Details

  • Parcel number: 7274020015
  • Attached to another structure: Yes
  • Special condition: Standard

Features

  • Levels: Two
  • Stories: 2
  • Entry location: 1
  • Pool features: None

Lot

  • Lot size: 7,501 sqft
  • Features: 16-20 Units/Acre