Properties
Long Beach, CA 90813 721 E 7th
$2,795,000
12 more
Presented By: Robert Stepp with Keller Williams Realty Downey; 310-463-2916
Baths • 1
SQFT • 10,464
Home Details
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.
Presented By: Robert Stepp with Keller Williams Realty Downey; 310-463-2916
Interior Features for 721 E 7th
Other Interior Features
Common Walls2+ Common Walls
Laundry FeaturesNone
Total Stories2
Other Rooms
Entry Level1
General for 721 E 7th
Additional Parcels Y/NNo
Building Area UnitsSquare Feet
Cap Rate6.88
CityLong Beach
Community FeaturesSidewalks
CountyLos Angeles
Directions7th Street
Electric Expense2597
Entry Location1
Fuel Expense2597
Garage Spaces
Garage Y/NNo
Gross Income305624
Insurance Expense17387
Land Lease Y/NNo
LevelsTwo
Listing TermsCash, Cash to New Loan, 1031 Exchange
Lot Size Square Feet7501
Lot Size UnitsSquare Feet
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense11200
Net Operating Income192405
New ConstructionNo
Number Of Units Total16
Operating Expense113219
Pool FeaturesNone
PostalCityLONG BEACH
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidential Income
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count2
Subdivision NameDowntown (DT)
Tax Lot3
Taxes$36,664
Trash Expense2597
Water Sewer Expense2597
Year Built1923
Year Built SourceAssessor
Exterior for 721 E 7th
Building Area Total10464
Lot Features16-20 Units/Acre
Lot Size Acres0.1722
Lot Size Area7501
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters16
Number of Separate Gas Meters16
Number of Separate Water Meters16
Private PoolNo
Total Parking0
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
