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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.
Property Type(s):
Residential Income
| Last Updated | 3/7/2026 | Year Built | 1962 |
|---|---|---|---|
| Community | 1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr | County | Los Angeles |
Price History
| Prior to Mar 7, '26 | $3,900,000 |
|---|---|
| Mar 7, '26 - Today | $3,800,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | 1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr |
| HEAT | None |
| LOT | 5258 sq ft |
| LOT DIMENSIONS | 50x105 |
| PARKING | Assigned |
| STORIES | Split/Multi Level |
Location
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Listed with Lyon Stahl Investment Real Estate, Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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