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 Bedrooms: 10Bathroom Information
Total Baths: 8 Full Baths: 0 Half Baths: 0 -
Cooling Features
None Air ConditioningHeating Source
None Has Heating
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Building Information
Year Built: 1962 Building Area Total: 4,275
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Lot Details
Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1207 Lot Size Dimensions: 50x105 -
Lot Size Source: Vendor Enhanced Lot Size Square Feet: 5257
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Listing Price Information
Original List Price: 3,800,000 Listing Contract Date: 2026-02-01 -
Lease Information
Listing Agreement: Seller Reserved
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Tax Information
Parcel Number: 7256001023
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Garage and Parking
Garage Description: Assigned,Controlled EntranceHomeowners Association
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Other Property Info
Source Listing Status: Active Source Neighborhood: 1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr Postal Code Plus 4: 2643 Directions: At the end of 38th Pl Zoning: LBR4R Source Property Type: Residential Income Area: 1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr -
Building and Construction
Property Age: 64 Year Built Source: Vendor Enhanced Total Square Feet Living: 4275 Levels or Stories: Multi/Split
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 6247 E Golden Sands #184, Long Beach, CA, 90803 | $235,000 | 2 | -- | 900 | 900 SqFt |
| 6224 E Marina View Driv.., Long Beach, CA, 90803 | $325,000 | 2 | 2 | 1,400 | 1,400 SqFt |
| 6207 Seabreeze, Long Beach, CA, 90803 | $169,900 | 2 | 1 | -- | |
| 6126 Marina Pacifica, Long Beach, CA, 90803 | $664,000 | 1 | 1 | 875 | 875 SqFt |
| 5104 Marina Pacifica Dr.., Long Beach, CA, 90803 | $489,000 | -- | 1 | 701 | 701 SqFt |
| 6911 E Ocean, Long Beach, CA, 90803 | $3,499,000 | 3 | 3 | 2,382 | 2,382 SqFt |
| 86 Via Di Roma Walk, Long Beach, CA, 90803 | $1,995,000 | 3 | 2 | 1,987 | 1,987 SqFt |
| 5903 E Corso Di Napoli, Long Beach, CA, 90803 | $7,150,000 | 4 | 3 | 2,730 | 2,730 SqFt |
| 6600 E Ocean, Long Beach, CA, 90803 | $1,999,999 | 3 | 3 | 1,624 | 1,624 SqFt |
| 90 Rivo Alto Canal, Long Beach, CA, 90803 | $3,498,000 | 4 | 2 | 2,600 | 2,600 SqFt |
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ByOwner last updated this listing 06/05/2026 @ 02:41
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