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Sold on 05/18/2026
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721 E 7th, Long Beach, CA 90813

  • $2,450,000

    Last sold 05/18/2026 after 230 Days

  • —

    bed

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    bath

Multi-family not for sale
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About 721 E 7th

Property type Multi-family
Neighborhood
Year built 1923
HOA fee $0/month
Lot size 7,501 Sqft
Rental estimate
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.
Listed by
Listing Agent - Robert Stepp
Listing Agent Contact: 310-463-2916
Listing Office - Keller Williams Realty Downey
Source: CRMLS mls logo
MLS#PW25229051 • last updated 1 month ago
Movoto checked CRMLS for data 4 minutes ago
Overview
Levels/Style Two
Type Residential Income
SubType Apartment
Status Closed
Lot Size (Acres) 0.1722
Lot Size (SqFt) 7501
Year Built 1923
Interior
Laundry None
Exterior
Building Area Square Feet, 10464
Lot Description 16-20 Units/Acre
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Los Angeles
Community Features Sidewalks
Subdivision Downtown (DT), Downtown (DT)
Directions 7th Street
APN 7274020015
Multifamily Details
Expense: Trash 2597
Operating Expense 113219
Cap Rate 6.88
Expense: Insurance 17387
Total Expenses 113219
Expense: Maintenance 11200
Expense: Water/ Sewer 2597
Gross Income 305624
Gross Operating Income 305624
Expense: Electric 2597
Gross Multiplier 8.87
Gross Scheduled Income 315076
Expense: Fuel 2597
Expense: Gardener 3000
Rental est.: $1,299/month
Gross rent multiplier: 179.3
  • May 2026
    mls logo MLS # PW25229051
  • May 19, 2026 Sold
    $2,450,000 (-12.3%)
  • Sep 30, 2025 Listed
    $2,795,000 (-18.4%)
  • Mar 2025
    mls logo MLS # PW25065043
  • Mar 25, 2025 Listed
    $3,425,000 (+3.6%)
  • Jun 2022
    mls logo MLS # CV22052753
  • Jun 17, 2022 Sold
    $3,305,000 (+0.8%)
  • Mar 18, 2022 Pending
    —
  • Mar 16, 2022 Listed
    $3,280,000
  • 721 E 7th
    $2.45M
  • Saint Mary
    $530K -1% y/y
  • 90813
    $549K 0% y/y
  • Long Beach
    $700K -2% y/y
No chart available
Statistics calculated by Movoto

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5/10
Stevenson Elementary School
public Grades K-5
Long Beach Unified School District
6/10
Polytechnic High School
public Grades 9-12
Long Beach Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
Based on information from California Regional Multiple Listing Service, Inc. as of 6/16/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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