721 E 7th, Long Beach, CA 90813
- $2,450,000
- Sold Price
- $2,450,000
- List Price
- $2,795,000
- Closing Date
- May 18, 2026
- Status
- CLOSED
- MLS#
- PW25229051
- Year Built
- 1923
- Lot Size
- 7,501
- Acres
- 0.17
- Lot Location
- 16-20 Units/Acre
- Days on Market
- 226
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
- Neighborhood
- Downtown (Dt)
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 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.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 16
- Gross Scheduled Income
- $315,076
- Operating Expense
- 113219
Listing courtesy of Listing Agent: Robert Stepp (rstepp@steppcommercial.com) from Listing Office: Keller Williams Realty Downey.
Listing sold by Aziz Zakkout from Zakkout Real Estate Services
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.