16 38th Place, Long Beach, CA 90803

Long Beach
Local realty services provided by:ERA Donahoe Realty
16 38th Place,Long Beach, CA 90803
$3,800,000
  • 10 Beds
  • 8 Baths
  • 4,275 sq. ft.
  • Multi-family
  • Active
Listed by: taylor avakian, aaron jacobson
Office: lyon stahl investment real estate, inc.310-425-9838
MLS#:26643731
Source:CRMLS

Price summary

  • Price:$3,800,000
  • Price per sq. ft.:$888.89

About this home

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.

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Home facts

  • Year built:1962
  • Listing ID #:26643731
  • Added:100 day(s) ago
  • Updated:May 15, 2026 at 10:47 AM

Rooms and interior

  • Bedrooms:10
  • Total bathrooms:8
  • Living area:4,275 sq. ft.

Structure and exterior

  • Year built:1962
  • Building area:4,275 sq. ft.
  • Lot area:0.12 Acres

Finances and disclosures

  • Price:$3,800,000
  • Price per sq. ft.:$888.89

Parking

  • Total parking spaces:10
  • Parking description:Assigned, Controlled Entrance
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