16 38th Place
Long Beach, CA 90803
10
Bed
0
Bath
4,275Sqft
5,257Sqft(Lot)
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
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 10Bathroom Information
Total Baths: 8 -
Heating & Cooling
Heating: None Cooling: None
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Building Information
Year Built: 1962Building Area Total: 4275Private Pool: No
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Lot Information
Lot Dimensions: 50x105 Main Square Feet: 5257 Lot Size Acres: 0.1207 Lot Size Square Feet: 5,257
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Listing Price Information
Listing Price: $3800000Original Price: $3900000
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Tax Information
Parcel Number: 7256001023
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Virtual Tour
Parking Information
Parking Total: 10 Assigned, Controlled Entrance
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Location Information
Direction: At the end of 38th Pl
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 7057 Mariner Way, Long Beach, CA, 90803 | $1,000,000 | 4 | 3 | 1,811 | 1,811 SqFt |
| 2 Windjammer Court, Long Beach, CA, 90803 | $959,900 | 3 | 2 | 1,729 | 1,729 SqFt |
| 6269 Marina View Drive .., Long Beach, CA, 90803 | $379,000 | 3 | 1 | 1,580 | 1,580 SqFt |
| 6068 Avenida De Castillo, Long Beach, CA, 90803 | $1,488,888 | 3 | 2 | 2,649 | 2,649 SqFt |
| 6247 E Golden Sands #184, Long Beach, CA, 90803 | $235,000 | 2 | -- | 900 | 900 SqFt |
| 6224 Beachcomber Drive, Long Beach, CA, 90803 | $199,000 | 3 | 1 | 1,278 | 1,278 SqFt |
| 6231 E Marina View Driv.., Long Beach, CA, 90803 | $429,000 | 2 | 1 | 1,150 | 1,150 SqFt |
| 6264 Napoli Court, Long Beach, CA, 90803 | $1,725,000 | 4 | 4 | 3,055 | 3,055 SqFt |
| 6048 Lido, Long Beach, CA, 90803 | $7,500,000 | 4 | 2 | 4,246 | 4,246 SqFt |
| 5894 E Appian, Long Beach, CA, 90803 | $2,395,000 | 4 | 3 | 2,603 | 2,603 SqFt |
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ByOwner last updated this listing 07/23/2026 @ 06:59
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