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Listed by Robert Stepp • Keller Williams Realty Downey
$ 3,425,000
Est. payment /mo
Active
721 E 7th Street Long Beach, CA 90813
10,464 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,464 sqft
Price per Sqft $327
MLS Listing ID CRPW25065043
HOA Y/N No
Year Built 1923
Lot Size 7,503 Sqft
Property Sub-Type Other
Source Datashare California Regional
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
Interior
Fireplace No
Laundry No Hookups
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