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$ 3,800,000
Est. payment | /mo
4,275 SqFt
$ 3,800,000
Est. payment | /mo
4,275 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,275 sqft
Price per Sqft $888
MLS Listing ID CL26643731
HOA Y/N No
Year Built 1962
Lot Size 5,257 Sqft
Acres 0.12
Property Sub-Type Other
Property 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.
Location
State CA
County Los Angeles
Zoning LBR4
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 7256001023
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Taylor Avakian • Lyon Stahl Investment Real Estate, Inc.
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