16 38th Place, Long Beach, CA — listing photo 1
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FOR SALE

16 38th Place

Long Beach, CA 90803
10 Beds
8 Baths
4,275 Sq Ft
Built 1962
$3,800,000
Price ReducedWas $3,900,000 — $3,800,000 (-$100,000)

Property Overview

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.

Home Details

Property type
Residential Income
Year built
1962
Living area
4,275 sq ft
Lot size
5,257 sq ft
Parking
10 spaces
Days on market
37
MLS status
Active
Zoning
LBR4R

Features & Amenities

Parking

  • Assigned
  • Controlled Entrance

Community, Schools & Utilities

Utilities

Heating
None
Cooling
None
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Location & Neighborhood

16 38th Place

Long Beach, CA 90803

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Frequently Asked Questions About 16 38th Place

Property type: Residential Income

The current asking price is $3,800,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 16 38th Place. Our team will confirm availability and timing.
This 10 bedrooms and 8 bathrooms property offers approximately 4,275 square feet of living space. It was built in 1962. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.
The MLS currently reports the property as Active. It has been listed for 37 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

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Listing Agent

Name: Taylor Avakian
MLS ID: CLW-C138326

Available property

$3,800,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.