721 E 7th St Long Beach, CA 90813
Saint Mary's NeighborhoodEstimated payment $18,416/month
About This Home
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.
Listing Agent
Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01456379 Listed on: 09/30/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1923
Lot Details
- 7,501 Sq Ft Lot
- Two or More Common Walls
- Density is 16-20 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 10,464 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Listing and Financial Details
- Legal Lot and Block 3 / 26
- Tax Tract Number 2828
- Assessor Parcel Number 7274020015
- $2,828 per year additional tax assessments
Community Details
Overview
- 16 Units
- Downtown Subdivision
Building Details
- Rent Control
- 16 Separate Electric Meters
- 16 Separate Gas Meters
- 16 Separate Water Meters
- Electric Expense $2,597
- Fuel Expense $2,597
- Gardener Expense $3,000
- Insurance Expense $17,387
- Maintenance Expense $11,200
- Other Expense $4,800
- Pest Control $3,000
- Professional Management Expense $25,281
- Trash Expense $2,597
- Water Sewer Expense $2,597
- New Taxes Expense $36,664
- Operating Expense $113,219
- Gross Income $305,624
- Net Operating Income $192,405
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $45,609 | $3,507,292 | $2,281,597 | $1,225,695 |
| 2024 | $45,609 | $3,438,522 | $2,236,860 | $1,201,662 |
| 2023 | $44,824 | $3,371,100 | $2,193,000 | $1,178,100 |
| 2022 | $43,531 | $3,427,200 | $2,223,600 | $1,203,600 |
| 2021 | $16,708 | $1,183,464 | $835,110 | $348,354 |
| 2020 | $16,663 | $1,175,330 | $826,547 | $348,783 |
| 2019 | $16,468 | $1,152,364 | $810,341 | $342,023 |
| 2018 | $16,005 | $1,129,848 | $794,452 | $335,396 |
| 2016 | $14,709 | $1,082,132 | $763,603 | $318,529 |
| 2015 | $14,157 | $1,065,878 | $752,133 | $313,745 |
| 2014 | $14,137 | $1,045,000 | $737,400 | $307,600 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/30/2025 09/30/25 | For Sale | $2,795,000 | -15.4% | $267 / Sq Ft | |
| 06/17/2022 06/17/22 | Sold | $3,305,000 | +0.8% | $316 / Sq Ft | View Prior Sale |
| 03/16/2022 03/16/22 | Pending | -- | -- | -- | |
| 03/16/2022 03/16/22 | For Sale | $3,280,000 | -- | $313 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW25229051
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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