| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1055 Walnut Ave, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 1988 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1055 Walnut Ave Long Beach Multifamily Investment
This 20-unit property built in 1988 benefits from neighborhood-level occupancy at 91.7% and high renter concentration at 79.2% of housing units. According to WDSuite's CRE market data, the area's strong amenity density and proximity to major employers support consistent rental demand in Long Beach's urban core.
This Long Beach neighborhood ranks among the top quartile nationally for amenity access, with exceptionally high concentrations of grocery stores (12.04 per square mile) and restaurants (25.94 per square mile) that enhance tenant retention. The area maintains 79.2% renter-occupied housing units, ranking 68th among 1,441 metro neighborhoods and indicating a deep rental market that supports multifamily demand stability.
Demographics within a 3-mile radius show 236,000 residents with 74% renter-occupied units, creating substantial tenant pool depth. Household growth projections indicate a 33% increase in total households by 2028, expanding from 95,000 to 126,000 units, which supports absorption potential for rental properties. The neighborhood's construction year average of 1956 positions this 1988 property as newer than typical area housing stock, potentially reducing near-term capital expenditure needs compared to older competing units.
Median home values of $577,396 represent elevated ownership costs that reinforce rental demand, with a value-to-income ratio ranking in the 97th percentile nationally. Contract rents at $1,551 median reflect competitive pricing within the metro context, while neighborhood-level occupancy at 91.7% demonstrates market absorption capacity. The rent-to-income ratio suggests affordability pressure considerations for lease management, though the high renter concentration indicates sustained demand for rental housing options.
Safety metrics show this neighborhood ranking 1,363rd among 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the lower tier for the region. Property offense rates and violent crime indicators suggest this factor requires consideration in investment analysis and tenant screening approaches.
Recent crime trends show increases in both property and violent offense rates over the past year, with property offenses up 37.7% and violent offenses up 47.2%. While these trends present risk factors for property management, the neighborhood's strong amenity density and proximity to employment centers continue to support rental demand from tenants prioritizing location convenience.
The property benefits from proximity to established corporate employers that anchor local workforce demand, led by healthcare and industrial operations within commuting distance.
- Molina Healthcare — healthcare services (1.9 miles) — HQ
- Air Products & Chemicals — industrial chemicals (4.1 miles)
- Airgas — industrial gases (7.0 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging & manufacturing (8.7 miles)
- Time Warner Business Class — telecommunications (8.9 miles)
This 1988-built property operates in a high-density rental market with 79.2% renter-occupied housing units, ranking in the top quartile nationally and indicating strong structural demand for multifamily housing. The neighborhood maintains 91.7% occupancy rates while benefiting from exceptional amenity density that supports tenant retention, including top-tier restaurant and grocery access that ranks in the 98th and 99th percentiles nationally.
Demographic projections within a 3-mile radius show household growth of 33% through 2028, expanding the potential tenant base from 95,000 to 126,000 households. According to multifamily property research from WDSuite, elevated home values at $577,396 median create ownership barriers that sustain rental demand, while the property's 1988 construction year positions it as newer than the neighborhood average, potentially reducing near-term capital expenditure requirements compared to competing older housing stock.
- High renter concentration at 79.2% indicates deep, stable rental market demand
- Neighborhood occupancy at 91.7% demonstrates market absorption capacity
- Projected 33% household growth through 2028 supports tenant base expansion
- 1988 construction year newer than area average, potentially reducing capital needs
- Safety metrics rank in lower tier regionally, requiring management consideration