16 38th Place, Long Beach
Long Beach Home For Sale
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.
Property Details
Additional Information
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- City:
- Long Beach
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- County:
- Los Angeles
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- Zip:
- 90803
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- MLS® #:
- 26643731
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- Bedrooms:
- 4
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- Bathrooms:
- 3
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- Square Ft:
- 4,275
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- Lot Size:
- 0.12
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- Levels:
- Multi/Split
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- HOA Dues:
- $
Price Change History for 16 38th Place, Long Beach, (MLS® #26643731)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced (from $3,900,000) | $3,800,000 | $100,000 (2.56%) |
Based on information from California Regional Multiple Listing Service, Inc. as of March 10th, 2026 at 5:56pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.