Property Overview 16 38th Pl is a 7-unit multifamily investment located in a coastal Long Beach rental pocket, delivered 100% vacant and offering a clear path to stabilization through immediate lease-up at market rents. Built in 1962, the 5,473-square-foot building sits on a 5,259-square-foot lot and features a functional unit mix of (4) 1-bedroom / 1-bath units, (2) 2-bedroom / 1-bath units, and (1) 2-bedroom / 2-bath unit, supporting broad tenant appeal and efficient operations.The property is subject to rent control; however, full vacant delivery allows a new owner to establish a clean, market-based rent roll from day one, eliminating tenant turnover delays and lease renegotiation risk. Based on the underwriting, stabilized rents average approximately $3,536 per unit, generating roughly $209K in projected NOI upon stabilization. Additional income is supported by 10 on-site parking spaces and laundry operations, strengthening effective gross income and long-term cash flow durability. Investment Highlights 100% Vacant Delivery Immediate Lease-Up Strategy Ancillary Income Through Parking & Laundry Efficient Expense Profile Coastal Long Beach Rental Demand Stabilized Exit Value Creation