16 38th Place Long Beach, CA 90803
Belmont Heights NeighborhoodEstimated payment $24,135/month
About This Home
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 Agent
Lyon Stahl Investment Real Estate, Inc. License #02060040 Listed on: 02/01/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 5,257 Sq Ft Lot
- Lot Dimensions are 50x105
Interior Spaces
- 4,275 Sq Ft Home
- Multi-Level Property
Bedrooms and Bathrooms
- 10 Bedrooms
- 8 Bathrooms
Parking
- 10 Parking Spaces
- Assigned Parking
- Controlled Entrance
Community Details
- 7 Units
Listing and Financial Details
- Assessor Parcel Number 7256-001-023
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $42,836 | $3,255,840 | $1,275,000 | $1,980,840 |
| 2024 | $13,641 | $992,869 | $333,085 | $659,784 |
| 2023 | $13,401 | $973,402 | $326,554 | $646,848 |
| 2022 | $12,597 | $954,316 | $320,151 | $634,165 |
| 2021 | $12,313 | $935,605 | $313,874 | $621,731 |
| 2019 | $12,134 | $908,106 | $304,565 | $603,541 |
| 2018 | $11,774 | $890,306 | $298,594 | $591,712 |
| 2016 | $10,817 | $855,496 | $287,000 | $568,496 |
| 2015 | $10,395 | $842,646 | $282,689 | $559,957 |
| 2014 | $10,347 | $826,141 | $277,152 | $548,989 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/07/2026 03/07/26 | Price Changed | $3,800,000 | -2.6% | $889 / Sq Ft | |
| 02/01/2026 02/01/26 | For Sale | $3,900,000 | +22.2% | $912 / Sq Ft | |
| 03/29/2024 03/29/24 | Sold | $3,192,000 | -8.8% | $583 / Sq Ft | View Prior Sale |
| 02/22/2024 02/22/24 | Pending | -- | -- | -- | |
| 01/03/2024 01/03/24 | For Sale | $3,499,000 | -- | $639 / Sq Ft |
Source: The MLS
MLS Number: 26643731
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© 2026 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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