721 E 7th Street
Long Beach, CA 90813
0.17 acres | #PW25065043
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.
Property Details
- Lot DescriptionSixteenToTwentyUnitsAcre
- SubdivisionAlamitos Beach (AB)
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$3,425,000
- MLS #PW25065043
- MLS #PW25065043
- Property SubtypeMixedUse
- Cost3425000
- Acres0.1722
- Utility SourcePublic
- Year Built1923
- Stories2
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Robert Stepp (#PSTEPROB)
Listing Office: Keller Williams - Santa Monica (#PB20859)
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