16 38th PL, Long Beach, CA 90803
16 38th PL, Long Beach, CA 90803
16 38th PL, Long Beach, CA 90803
16 38th PL, Long Beach, CA 90803
16 38th PL, Long Beach, CA 90803
16 38th PL, Long Beach, CA 90803
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Sam Mu

Sam Mu

+1(949) 258-2228
$ 3,800,000
Est. payment | /mo

10 Beds

8 Baths

4,275 SqFt

Save
$ 3,800,000
Est. payment | /mo
Save

10 Beds

8 Baths

4,275 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,275 sqft

Price per Sqft $888

MLS Listing ID 26643731

Bedrooms 10

HOA Y/N No

Year Built 1962

Lot Size 5,257 Sqft

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

Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr

Zoning LBR4R

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Assigned, Controlled Entrance

Total Parking Spaces 10

Building

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 7256001023

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040

Nearby Locations

Sam Mu

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 258-2228

sammuteam@gmail.com

880 Roosevelt Suite 250, Irvine, California, 92620, United States

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16 38th PL