721 E 7th St

Long Beach, CA 90813

$2,795,000
Price
3
Beds
16
Baths
10,464 Sq. Ft.
$267 / Sq. Ft.
10,464
Sq. Ft.
$267
per Sq. Ft.
an aerial view of a city
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a view of an empty room with a window and wooden floor
a view of an empty room with a window and wooden floor
a kitchen with granite countertop stainless steel appliances a sink cabinets and a stove top oven
a view of kitchen with wooden floor
an empty room with wooden floor and windows
a kitchen with stainless steel appliances a refrigerator stove microwave and cabinets
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a view of a house with a backyard

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....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.
  1. Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01978349 • Keller Williams Realty Downey • 310-463-2916

Property Details for 721 East 7th Street

Parking Spaces Total
0
Private Pool
No
Total Units
16.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
10464
Assessor Parcel Number
7274-020-015
Property Attached YN
true
LISTING UPDATED: 11/19/2025 05:22 AM

Property Details for 721 East 7th Street

StatusActive
MLS #PW25229051
Days on Market81
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Res Income 2-4 Units
Year Built1923
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Realty Downey, Robert Stepp, DRE #01456379
Add your commute

Building Information for 721 East 7th Street

Building/Complex721 E 7th StFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1923Building Size-

Payment Calculator

$17,787 per month

30 year fixed, 6.28% Interest

Principal and Interest

$13,811

Property Taxes

$3,976

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 721 East 7th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $305,624
  • Gross Scheduled Income: $315,076
  • Gross Operating Income: $305,624
  • Net Operating Income: $192,405
  • Gross Multiplier: 8.87
  • Cap Rate: 6.88
Expense Details
  • Operating Expense: $113,219
  • New Taxes Expense: $36,664
  • Gardener Expense: $3,000
  • Fuel Expense: $2,597
  • Licenses Expense: $1,500
  • Pest Control Expense: $3,000
  • Electric Expense: $2,597
  • Insurance Expense: $17,387
  • Maintenance Expense: $11,200
  • Professional Management Expense: $25,281
  • Other Expense: $4,800
  • Other Expense Description: Reserves
  • Trash Expense: $2,597
  • Water Sewer Expense: $2,597
  • Total Expenses: $113,219
Tax / Assessment Info
  • Tax Block: 26
  • Tax Tract Number: 2828
  • CFD/Mello-Roos Fee: $2,828
  • Tax Lot: 3
Community / Development
Community / Development
  • Community Features: Sidewalks
  • Community: Downtown (DT)
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
Land/Lot Info
  • Lot Features: 16-20 Units/Acre
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Downtown
  • Builders Tract Code: Downtown (DT)
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,948
  • Unit Type Total Rent: $5,844
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,588
  • Unit Type Total Rent: $12,704
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,473
  • Unit Type Total Rent: $7,365
  • Unit Type Pro Forma: 1520
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 16

Property History for 721 East 7th Street

DateEvent & SourcePriceAppreciation
Sep 30, 2025

Listed (Active)

SDMLS #PW25229051

$2,795,000—
Sep 30, 2025

Listed (Active)

CLAW #PW25229051MR

$2,795,000—
Sep 30, 2025

Listed (Active)

CRMLS #PW25229051

$2,795,000—
Sep 1, 2025

Expired

CRMLS #PW25065043

—
Aug 31, 2025

Expired

CLAW #PW25065043MR

$3,425,000—
Mar 25, 2025

Listed (Active)

CRMLS #PW25065043

$3,425,000—
Mar 25, 2025

Listed (Active)

CLAW #PW25065043MR

$3,425,000—
Jun 17, 2022

Sold

CLAW #CV22052753MR

$3,305,000—
Jun 17, 2022

Sold

SDMLS #CV22052753

$3,305,000—
Jun 17, 2022

Sold

CRMLS #CV22052753

$3,305,000—
Apr 14, 2022

Sold (Public Record)

Public Record #1492142139

$3,305,000

+4.7% / yr

Mar 18, 2022

Pending

CRMLS #CV22052753

—
Mar 16, 2022

Pending

SDMLS #CV22052753

—
Mar 16, 2022

Listed (Active)

SDMLS #CV22052753

$3,280,000—
Mar 16, 2022

Pending

CLAW #CV22052753MR

—
Mar 16, 2022

Listed (Active)

CRMLS #CV22052753

$3,280,000—
Mar 16, 2022

Listed (Active)

CLAW #CV22052753MR

$3,280,000—
May 16, 2012

Expired

CRMLS #P339855

$974,000—
Sep 30, 2005

Sold (Public Record)

Public Record #165520161

$1,539,000

+22.1% / yr

Sep 1, 2005

Sold

CRMLS #CC217625

$1,539,000—
Sep 1, 2005

Sold

CRMLS #P455292

$1,539,000—
Sep 1, 2005

Sold

CLAW #P455292MR

$1,539,000—
Jul 12, 2005

Pending

CRMLS #P455292

—
Jul 12, 2005

Pending

CLAW #P455292MR

—
Jun 17, 2005

Listed (Active)

CRMLS #P455292

$1,538,600—
Jun 17, 2005

Listed (Active)

CRMLS #CC217625

$1,538,600—
Jun 17, 2005

Listed (Active)

CLAW #P455292MR

$1,538,600—
Jun 3, 2005

Withdrawn / Cancelled

CRMLS #P451325

$1,540,000—
Jun 3, 2005

Withdrawn / Cancelled

CLAW #P451325MR

—
May 23, 2005

Listed (Active)

CRMLS #CC217489

$1,540,000—
May 23, 2005

Withdrawn / Cancelled

CRMLS #P443948

$1,540,000—
May 23, 2005

Listed (Active)

CLAW #P451325MR

$1,540,000—
May 23, 2005

Withdrawn / Cancelled

CLAW #P443948MR

—
May 23, 2005

Listed (Active)

CRMLS #P451325

$1,540,000—
Apr 7, 2005

Listed (Active)

CRMLS #P443948

$1,540,000—
Apr 7, 2005

Listed (Active)

CLAW #P443948MR

$1,540,000—
Apr 7, 2005

Listed (Active)

CRMLS #CC217160

$1,540,000—
Jul 1, 2004

Sold (Public Record)

Public Record #136969688

$1,200,000

+52.2% / yr

Jan 7, 2004

Sold (Public Record)

Public Record #126268887

$980,000—
Jul 21, 2003

Expired

CLAW #P339855MR

—
Apr 21, 2003

Listed (Active)

CLAW #P339855MR

$974,000—
Apr 21, 2003

Listed (Active)

CRMLS #P339855

$974,000—
Apr 21, 2003

Listed (Active)

CRMLS #CC213131

$974,000—
DateEvent & SourcePrice
09/30/2025

Listed (Active)

SDMLS #PW25229051

$2,795,000
09/30/2025

Listed (Active)

CLAW #PW25229051MR

$2,795,000
09/30/2025

Listed (Active)

CRMLS #PW25229051

$2,795,000
09/01/2025

Expired

CRMLS #PW25065043

—
08/31/2025

Expired

CLAW #PW25065043MR

$3,425,000
03/25/2025

Listed (Active)

CRMLS #PW25065043

$3,425,000
03/25/2025

Listed (Active)

CLAW #PW25065043MR

$3,425,000
06/17/2022

Sold

CLAW #CV22052753MR

$3,305,000
06/17/2022

Sold

SDMLS #CV22052753

$3,305,000
06/17/2022

Sold

CRMLS #CV22052753

$3,305,000
04/14/2022

Sold (Public Record)

Public Record #1492142139

$3,305,000

+4.7% / yr

03/18/2022

Pending

CRMLS #CV22052753

—
03/16/2022

Pending

SDMLS #CV22052753

—
03/16/2022

Listed (Active)

SDMLS #CV22052753

$3,280,000
03/16/2022

Pending

CLAW #CV22052753MR

—
03/16/2022

Listed (Active)

CRMLS #CV22052753

$3,280,000
03/16/2022

Listed (Active)

CLAW #CV22052753MR

$3,280,000
05/16/2012

Expired

CRMLS #P339855

$974,000
09/30/2005

Sold (Public Record)

Public Record #165520161

$1,539,000

+22.1% / yr

09/01/2005

Sold

CRMLS #CC217625

$1,539,000
09/01/2005

Sold

CRMLS #P455292

$1,539,000
09/01/2005

Sold

CLAW #P455292MR

$1,539,000
07/12/2005

Pending

CRMLS #P455292

—
07/12/2005

Pending

CLAW #P455292MR

—
06/17/2005

Listed (Active)

CRMLS #P455292

$1,538,600
06/17/2005

Listed (Active)

CRMLS #CC217625

$1,538,600
06/17/2005

Listed (Active)

CLAW #P455292MR

$1,538,600
06/03/2005

Withdrawn / Cancelled

CRMLS #P451325

$1,540,000
06/03/2005

Withdrawn / Cancelled

CLAW #P451325MR

—
05/23/2005

Listed (Active)

CRMLS #CC217489

$1,540,000
05/23/2005

Withdrawn / Cancelled

CRMLS #P443948

$1,540,000
05/23/2005

Listed (Active)

CLAW #P451325MR

$1,540,000
05/23/2005

Withdrawn / Cancelled

CLAW #P443948MR

—
05/23/2005

Listed (Active)

CRMLS #P451325

$1,540,000
04/07/2005

Listed (Active)

CRMLS #P443948

$1,540,000
04/07/2005

Listed (Active)

CLAW #P443948MR

$1,540,000
04/07/2005

Listed (Active)

CRMLS #CC217160

$1,540,000
07/01/2004

Sold (Public Record)

Public Record #136969688

$1,200,000

+52.2% / yr

01/07/2004

Sold (Public Record)

Public Record #126268887

$980,000
07/21/2003

Expired

CLAW #P339855MR

—
04/21/2003

Listed (Active)

CLAW #P339855MR

$974,000
04/21/2003

Listed (Active)

CRMLS #P339855

$974,000
04/21/2003

Listed (Active)

CRMLS #CC213131

$974,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 721 East 7th Street

Taxable ValueLand$2,281,597Additions$1,229,695Total$3,511,292
Tax Record2025$47,709 ($3,976 / month)
Home Facts
Total Finished SqFt10,464 SqFtAbove Grade Finished SqFt10,464 SqFtLot Size7,501 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLBCOCountyLOS ANGELESAPN7274-020-015

Schools near 721 East 7th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Stevenson Elementary School
Public - K to 5
Franklin Classical Middle School
Public - 6 to 8
Polytechnic High School
Public - 9 to 12
Renaissance High School For The Arts
Public - 9 to 12
Rating
School
Distance
Stevenson Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Renaissance High School For The Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 721 East 7th Street, Long Beach, CA 90813

721 East 7th Street is a multi-family home for sale in Long Beach, CA 90813. This property was listed for sale on September 30, 2025 by Keller Williams Realty Downey, it's currently listed at $2,795,000. It has been on the market for a total of 81 days and was last sold on June 17, 2022. This listing's school district is Long Beach Unified School District. Nearby schools include Stevenson Elementary School, Franklin Classical Middle School and Polytechnic High School. 721 East 7th Street is a 3-bed, 16-bath, 10,464 sqft multi-family home built in 1923.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Downey, Robert Stepp, DRE #01456379

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.