16 38th Place, Long Beach, CA 90803

• 4,275 sqft

Property Description

16 38th Pl | 7-Unit Multifamily in Coastal Long Beach. Built in 1962, the property totals 5,473 SF and presents a rare opportunity to acquire a seven-unit asset delivered 100% vacant, allowing a new owner to immediately execute a full lease-up strategy and establish a clean market-based rent roll from day one. The offering features a desirable unit mix of (4) one-bedroom / one-bath units and (3) two-bedroom / one-bath units, supported by 10 on-site parking spaces that create additional ancillary income potential. Underwritten market rents average approximately $3,536 per unit, supporting a projected stabilized NOI of roughly $209K annually. Offered at $3,800,000 ($542,857/unit | $694.32/SF) with a 5.51% cap rate and 12.79 GRM, the asset provides investors a clear path to stabilization and long-term value creation in a highly desirable coastal Long Beach rental corridor.

Listing Status:

Active

Date Added:

February 1, 2026

Data Last Updated:

April 3, 2026 at 7:06AM

Listing Office:

Lyon Stahl Investment Real Estate, Inc. : 310-425-9838

Listing Agent:

Taylor Avakian : 916-996-4421

MLS ID:

CL26643731

Interior

• A/C: None
• Heating: None

Exterior

• Parking: AssignedOther

Location

• Originating MLS: CRMLS
• County: Los Angeles

Lot

• Zoning: LBR47256001023

Financial

• Source: CRMLS