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$ 2,795,000
Est. payment | /mo
3 Beds
7,501 Sqft Lot
$ 2,795,000
Est. payment | /mo
3 Beds
7,501 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID PW25229051
Bedrooms 3
Lot Size 7,501 Sqft
Property Sub-Type Res Income 2-4 Units
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 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.
Location
State CA
County Los Angeles
Zoning Assessor
Direction 7th Street
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7274020015
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Robert Stepp Keller Williams Realty Downey
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”