Multi-Family for sale in Southern California — $3,800,000. 10 beds · 8 baths · 4,275 sqft. 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 immediate…
$3,800,000
16 38th Place, Long Beach, CA 90803
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.
Listing updated: March 10, 2026 at 8:12 AM
Listed by: Taylor Avakian, Lyon Stahl Investment Real Estate, Inc.
Source: CRMLS, MLS#: 26643731, Originating MLS: California Regional MLS
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| Date | Event | Price |
|---|---|---|
3/07/2026 Source: CRMLS, #26643731 | Price change | $3,800,000$889/sqft-2.6% |
| 2/01/2026Source: CRMLS, #26643731 | Listed for sale | $3,900,000$912/sqft |
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