Overview
- 10
- 8
- 4275
- 1962
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.
Address
Open on Google Maps- Address 38th
- City Long Beach
- State/county Los Angeles
- Zip/Postal Code 90803
Details
Updated on March 10, 2026 at 6:07 pm- Property ID: HZ26643731
- Price: $3,800,000
- Property Size: 4275 Sq Ft
- Bedrooms: 10
- Bathrooms: 8
- Year Built: 1962
- Property Status: ResidentialIncome
- Listed by: Taylor Avakian
- DRE #: 02060040
- Contact Mail: taylor@lyonstahl.com
- Brokered by: Lyon Stahl Investment Real Estate, Inc.
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