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Nicole Darwin

nicole.darwin@engelvoelkers.com +1(707) 330-4357

$ 3,425,000

Est. payment -/mo

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721 E 7th ST Long Beach, CA 90813

7,501 Sqft Lot

UPDATED:

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

Listed by Robert Stepp • Keller Williams - Santa Monica • 310-463-2916

Nicole Darwin

Advisor

+1(707) 330-4357

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