| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1035 Lewis Ave, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 1993 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1035 Lewis Ave Long Beach 20-Unit Multifamily
Renter demand is supported by a high neighborhood renter-occupied share and dense amenities, according to WDSuite’s CRE market data, suggesting steadier occupancy through cycles.
Located in Long Beach’s Urban Core, the surrounding neighborhood is rated A- and ranks in the top quartile among 1,441 metro neighborhoods, indicating competitive fundamentals for workforce-oriented rentals. Amenity access is a clear strength, with grocery, cafes, restaurants, and pharmacies testing in very high national percentiles, which can bolster leasing velocity and day-to-day resident satisfaction.
The building’s 1993 vintage is newer than much of the local housing stock (neighborhood average skewing mid-20th century). That positioning can be competitively favorable versus older assets, while still leaving room for targeted system updates or common-area refreshes to support rent resiliency and retention.
Neighborhood occupancy is in the low 90s, and the renter-occupied share is elevated (approximately four out of five housing units are renter-occupied). For investors, this points to a deep tenant base and consistent multifamily demand, though effective lease management remains important as supply and pricing evolve.
Within a 3-mile radius, households have increased even as average household size edges lower, expanding the household count and broadening the tenant pool. Median home values in the neighborhood are elevated relative to incomes by national standards (high national percentile for value-to-income), which tends to reinforce reliance on rental housing and can support pricing power when paired with prudent affordability oversight.
Safety indicators for the neighborhood currently lag both metro and national norms. Crime ranks in the lower tier among 1,441 metro neighborhoods, and national percentiles indicate below-average safety relative to neighborhoods nationwide. Recent year-over-year estimates also point to upticks in both property and violent offenses. Investors should underwrite with conservative assumptions, consider security design measures, and assess how on-site management practices can mitigate risk and support resident retention.
The area draws from a diverse employment base that supports renter demand and commute convenience, led by healthcare, industrial gases, and communications services detailed below.
- Molina Healthcare — healthcare services (1.5 miles) — HQ
- Air Products & Chemicals — industrial gases (3.8 miles)
- Airgas — industrial gases (7.1 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging products (9.1 miles)
- Time Warner Business Class — communications services (9.2 miles)
1035 Lewis Ave offers a 20-unit footprint in Long Beach’s Urban Core with strong amenity proximity and a renter-heavy neighborhood, supporting depth of tenant demand and day-to-day livability advantages. According to CRE market data from WDSuite, neighborhood occupancy trends sit in the low 90s, while elevated home values versus incomes help sustain multifamily reliance, aiding pricing power when paired with disciplined rent-to-income management.
Constructed in 1993, the asset is newer than much of the surrounding housing stock, positioning it competitively versus mid-century inventory. Targeted capital planning around interior updates and building systems can unlock value-add potential without overextending scope. Forward-looking household growth within a 3-mile radius and smaller household sizes point to a broader renter pool, which can support occupancy stability over a longer hold.
- Renter-heavy neighborhood and dense amenities support leasing velocity and retention.
- 1993 vintage offers competitive positioning versus older stock with selective value-add upside.
- Elevated ownership costs relative to income reinforce multifamily demand and pricing power.
- 3-mile household growth and smaller household sizes broaden the tenant base over time.
- Risks: below-average safety metrics and affordability pressure require hands-on management and prudent underwriting.