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$3,425,000

Beds
Unknown
sq ft
Unknown

721 E 7th St, Long Beach, CA 90813

721 E 7th St

Long Beach, CA 90813

  • 9 days on market
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.

Details

Property type

Mixed Use

Est. home value

$3,235,983

Lot size

7,503 sq ft

Price per sq ft

Unknown

Year built

1923

Price History

03/25/2025
CRMLS

CRMLS #PW25065043

Listed
$3,425,000
+3.63%
06/17/2022
CRMLS

CRMLS #CV22052753

Sold
$3,305,000

Schools & Community

Neighborhood: 

East Village

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Sidewalks

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Civic Financial Services Llc

Loan start date

April 2022

Original loan amount

$2,915,000

Est. remaining balance

Not provided

Interest rate

3.89%

Loan type

Commercial

Seller

737 E Fifth Street Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 04/03/2025 at 4:45 PM

Listing updated: 03/25/2025 at 2:35 PM

Listed by: Robert Stepp, Keller Williams - Santa Monica Phone #: (310) 482-2200

MLS: CRMLS #PW25065043

CRMLS logo

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