| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1046 E 4th St, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1975 |
| Units | 104 |
| Transaction Date | 2015-08-08 |
| Transaction Price | $8,200,000 |
| Buyer | --- |
| Seller | --- |
1046 E 4th St Long Beach Multifamily Investment
Amenity-dense Urban Core location with a deep renter base supports steady leasing, according to WDSuite’s CRE market data.
Located in Long Beach’s Urban Core, the neighborhood ranks 303 out of 1,441 Los Angeles–Long Beach–Glendale metro neighborhoods — competitive among metro peers and within the metro’s top quartile. Dense retail and daily-needs access are a differentiator: grocery, restaurant, cafe, and pharmacy availability sit in very high national percentiles, which underpins walkability and resident convenience for a 104-unit asset.
Neighborhood-level occupancy is 91.7% with modest softening over five years, while renter-occupied housing units account for roughly 79% of the stock. For investors, that renter concentration indicates a large tenant base and generally supports demand stability for multifamily, even as lease-up may require attentive pricing and concessions management through cycles.
Within a 3-mile radius, households have grown even as population edged down, and the average household size has trended smaller. This shift expands the pool of renting households and can support occupancy stability and absorption for well-located mid-scale properties. Median contract rents and household incomes have both risen over the past five years, and forward-looking projections show further rent growth alongside higher incomes — a backdrop that supports disciplined revenue management in this submarket, based on commercial real estate analysis from WDSuite.
Ownership costs are elevated locally (home values sit high relative to incomes), which typically sustains reliance on rental housing and can aid retention for quality units. Average school ratings are mixed, and parks access is above many urban peers; combined with strong dining and services density, the area offers livability features that appeal to a wide renter profile.
The property’s 1975 vintage is newer than the neighborhood’s older average stock from the 1950s, which can be a relative competitive advantage versus pre-1960 assets. That said, investors should underwrite ongoing system updates and common-area refreshes typical for assets of this era to capture value-add upside and support rent positioning.
Safety indicators for the neighborhood compare below national norms, with both violent and property offense measures in lower national percentiles. Recent year-over-year trends also reflect increases. Investors commonly mitigate this with practical measures such as lighting, access control, and vendor coordination, and should calibrate underwriting assumptions and operating plans accordingly.
Contextually, the Urban Core location offers strong amenity access and employment proximity, which can aid leasing and retention even where safety metrics lag broader national benchmarks. Monitoring trend direction and partnering with experienced management remains important for long-term performance.
Proximity to regional employers supports commute convenience and ongoing renter demand. Notable nearby employers include Molina Healthcare, Air Products & Chemicals, Airgas, INTERNATIONAL PAPER Cypress Retail Packaging, and Time Warner Business Class.
- Molina Healthcare — healthcare services (1.3 miles) — HQ
- Air Products & Chemicals — industrial gases (4.2 miles)
- Airgas — industrial gases (7.7 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (9.1 miles)
- Time Warner Business Class — telecommunications (9.6 miles)
This 104-unit, 1975-vintage asset sits in a competitive Long Beach Urban Core location with strong amenity depth and a large renter base. Neighborhood occupancy is in the low-90s and the share of renter-occupied units is high, supporting demand depth and leasing resilience relative to many suburban submarkets. According to CRE market data from WDSuite, neighborhood NOI per-unit levels are in the metro’s upper tier, reinforcing the case for disciplined operations and selective upgrades to sustain performance.
Households within a 3-mile radius have increased while average household size has declined, indicating more households entering the market even as population edges lower — a pattern that can expand the renter pool and support occupancy stability. Elevated ownership costs locally further reinforce reliance on multifamily housing, while the 1975 vintage offers a practical platform for targeted renovations to enhance competitive positioning versus older stock.
- Amenity-rich Urban Core location with strong daily-needs access supports leasing and retention
- High renter-occupied share in the neighborhood indicates depth of tenant demand
- 1975 vintage provides value-add potential alongside relative competitiveness versus older area stock
- Elevated ownership costs tend to sustain reliance on rental housing, aiding pricing power
- Risk: below-average safety metrics and recent upticks warrant security planning and conservative underwriting