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.
Sold for $2,450,000
Listing Provided by: Keller Williams Realty Downey
Bought with: Zakkout Real Estate Services
$2,450,000
721 E 7th St, Long Beach, CA 90813
14beds
16baths
10,464sqft
Multi Family
Built in 1923
-- sqft lot
$-- Zestimate®
$234/sqft
$2,530 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,530/mo
Zestimate® history
Owner options
List your home for rent
$2,530/mo
Rent Zestimate®
Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.
$2,530/mo
Rent Zestimate®
Refinance and save
$15,669/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$15,669/mo
Est. payment
Explore your selling options
Work with a Zillow partner agent
Leverage their expertise and Zillow's premium Showcase listings to get your home seen by more buyers.
Get startedList with your own agent
Get your home in front of millions of buyers by listing it on Zillow.
Learn how to do itSell it yourself
Take full control of how buyers see your home on Zillow by listing For Sale by Owner (FSBO).
List your homeWhat's special
Upgraded electrical throughout property
Zillow last checked:
Listing updated:
Listing Provided by:
Robert Stepp DRE #01456379 310-463-2916,
Keller Williams Realty Downey
Bought with:
Aziz Zakkout, DRE #01911009
Zakkout Real Estate Services
Source: CRMLS,MLS#: PW25229051
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 14
- Bathrooms: 16
Appliances
- Laundry: None
Features
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 10,464
- Total interior livable area: 10,464 sqft
Property
Features
- Levels: Two
- Stories: 2
- Entry location: 1
- Pool features: None
Lot
- Size: 7,501 sqft
- Features: 16-20 Units/Acre
Details
- Parcel number: 7274020015
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1923
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Community
- Community features: Sidewalks
Location
- Region: Long Beach
- Subdivision: Downtown (Dt)
Other
Other facts
- Listing terms: Cash,Cash to New Loan,1031 Exchange
Price history
| Date | Event | Price |
|---|---|---|
| 5/18/2026 | Sold | $2,450,000-12.3%$234/sqft |
Source:  CRMLS #PW25229051 Report a problem | ||
| 9/30/2025 | Listed for sale | $2,795,000-15.4%$267/sqft |
Source: CRMLS #PW25229051 Report a problem | ||
| 6/21/2022 | Sold | $3,305,000+0.8%$316/sqft |
Source: Public Record Report a problem | ||
| 3/18/2022 | Pending sale | $3,280,000$313/sqft |
Source: CRMLS #CV22052753 Report a problem | ||
| 3/16/2022 | Listed for sale | $3,280,000+113.1%$313/sqft |
Source: CRMLS #CV22052753 Report a problem | ||
| 9/30/2005 | Sold | $1,539,000+28.2%$147/sqft |
Source: Public Record Report a problem | ||
| 7/1/2004 | Sold | $1,200,000+22.4%$115/sqft |
Source: Public Record Report a problem | ||
| 1/7/2004 | Sold | $980,000$94/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $47,709 +4.6% | $3,511,292 +2% |
| 2024 | $45,609 +1.8% | $3,442,522 +2% |
| 2023 | $44,824 +161.6% | $3,375,100 -1.6% |
| 2022 | $17,132 +2.5% | $3,431,200 +189% |
| 2021 | $16,708 +0.3% | $1,187,464 +1% |
| 2020 | $16,663 | $1,175,330 +2% |
| 2019 | $16,663 +4.1% | $1,152,364 +2% |
| 2018 | $16,005 | $1,129,848 +2.4% |
| 2017 | $16,005 +1.1% | $1,103,774 +2% |
| 2016 | $15,833 +7.6% | $1,082,132 +1.5% |
| 2015 | $14,709 +4% | $1,065,878 +2% |
| 2014 | $14,137 | $1,045,000 -36% |
| 2009 | -- | $1,633,197 +4% |
| 2007 | -- | $1,569,780 +2% |
| 2006 | -- | $1,539,000 +23.3% |
| 2005 | -- | $1,248,480 +122.9% |
| 2004 | -- | $560,000 |
| 2003 | -- | $560,000 +28.1% |
| 2002 | -- | $437,000 +36.6% |
| 2000 | -- | $320,000 |
Find assessor info on the county website
Neighborhood: East Village
Nearby schools
GreatSchools rating
- 5/10Stevenson Elementary SchoolGrades: K-5Distance: 0.1 mi
- 4/10Franklin Classical Middle SchoolGrades: 6-8Distance: 0.4 mi
- 7/10Polytechnic High SchoolGrades: 9-12Distance: 0.8 mi
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Long Beach Topics
