16 38th Place, Long Beach, California 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.