721 E 7th ST new Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW25065043
HOA Y/N No
Year Built 1923
Lot Size 7,501 Sqft
Property Sub-Type Mixed Use
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
Fireplace No
Laundry None
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7274020015
Energy Description 2596.0
Acceptable Financing Cash,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to New Loan,1031 Exchange
Special Listing Condition Standard