$ 3,800,000
-
$3,800,000
Price -
10
Bed -
8
Bath -
4,275
SqFt
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About the Listing X82195 - C138326,MRM-SBJACOAAR
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 Highlights
Status
Active
Days on Site
46
Property Type
Multi-Family
MLS ®
26643731
Year Built
1962
Total Square Footage
4,275
Lot/Acreage
0.12
County
Los Angeles
Interior Details
- Bedrooms: 10
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 10
- Lot Dimensions: 50x105
- Zoning: LBR4R
- Roof:
- Others:
- Sewer:
- Parking Features: Assigned,Controlled Entrance
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Questions About..
16 38th Pl Long Beach, CA 90803
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