- 4 Beds
- 3 Baths
- 4,275 Sqft
- .12 Acres
16 38th Place
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.
Essential Information
- MLS® #26643731
- Price$3,800,000
- Bedrooms4
- Bathrooms3.00
- Square Footage4,275
- Acres0.12
- Year Built1962
- TypeResidential Income
- StatusActive
Community Information
- Address16 38th Place
- CityLong Beach
- CountyLos Angeles
- Zip Code90803
Area
1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr
Amenities
- Parking Spaces10
- ParkingAssigned, Controlled Entrance
- GaragesAssigned, Controlled Entrance
Interior
- HeatingNone
- CoolingNone
- StoriesMulti/Split
Additional Information
- Date ListedFebruary 1st, 2026
- Days on Market55
- ZoningLBR4R
Listing Details
- AgentTaylor Avakian
Office
Lyon Stahl Investment Real Estate, Inc.
Price Change History for 16 38th Place, Long Beach, (MLS® #26643731)
| Date | Details | Change |
|---|---|---|
| Price Reduced from $3,900,000 to $3,800,000 |
Taylor Avakian, Lyon Stahl Investment Real Estate, Inc..
Based on information from California Regional Multiple Listing Service, Inc. as of March 28th, 2026 at 3:40am 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.