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$3,800,000

For Sale

2 months ago

16 38Th Pl, Long Beach, CA

House

MLS® 26643731

10 Bed

8 Bath

4275 sqft

10 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 4275 sqft
Garage 
Taxes 
Days Active 62
Lot Size 
Approx. Age 1962
Avg. Price Per Sqft $888
MLS® Number 26643731

Property Address: 16 38th Pl, Long Beach, CA, 90803-2643

Average square foot calculated using Size range provided by listing agent.

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.
MLS® Number26643731
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1962
Basement
DrivewayAssigned, Controlled Entrance
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Feb 4, 2026List Date
$3,800,000List Price
  • Commute

Commute

Starting Address
Destination Address
16 38Th Pl, Long Beach, CA

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