| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1061 Walnut Ave, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 1988 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1061 Walnut Ave, Long Beach Value-Add Multifamily
Amenity-rich urban core location with a deep renter base supports stable leasing, according to WDSuite’s CRE market data. Newer 1988 vintage versus much of the local stock positions the asset competitively with modernization upside.
The property sits in Long Beach’s Urban Core, where daily needs and lifestyle amenities are concentrated. Neighborhood amenity access ranks competitive among Los Angeles-Long Beach-Glendale neighborhoods (relative to 1,441 total), with abundant groceries, cafes, restaurants, and pharmacies supporting convenience and walkability. This concentration typically helps sustain foot traffic and leasing velocity.
Occupancy in the neighborhood trends near the national middle, per WDSuite, while renter concentration is high (around four in five housing units are renter-occupied). For multifamily owners, that depth of renter demand can support steady traffic and renewals, particularly for well-managed workforce housing.
The asset’s 1988 construction is newer than the area’s older average vintage, indicating relative competitive positioning versus pre-1970s buildings. Investors should still plan for targeted building-systems updates and interior refreshes to capture value-add rent premiums and improve operating efficiency.
Within a 3-mile radius, household counts have grown despite a modest population dip, pointing to smaller household sizes and a broader leasing pool. Rising household incomes and a high-cost ownership market in the area reinforce reliance on multifamily rentals, which can aid retention and pricing power. Based on WDSuite’s commercial real estate analysis, average school ratings are modest, so family-oriented demand may be more price- and amenity-sensitive.
Safety indicators in this neighborhood trend weaker than both national and metro norms. The area ranks near the lower end among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, and national comparisons place the neighborhood in a lower safety percentile. Recent year-over-year estimates indicate increases in both property and violent offenses. For underwriting, investors commonly account for professional security measures, lighting and access controls, and prudent tenant screening to support resident experience and asset performance.
Proximity to regional employers underpins workforce housing demand and commute convenience for residents. Notable nearby employers include Molina Healthcare, Air Products & Chemicals, Airgas, International Paper (Cypress Retail Packaging), and Time Warner Business Class.
- Molina Healthcare — healthcare services (1.85 miles) — HQ
- Air Products & Chemicals — industrial gases (4.11 miles)
- Airgas — industrial gases (7.03 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (8.66 miles)
- Time Warner Business Class — telecom/business services (8.89 miles)
1061 Walnut Ave offers a 20-unit, 1988-vintage asset positioned in an amenity-dense Long Beach neighborhood with a large renter base. According to CRE market data from WDSuite, the submarket shows mid-cycle occupancy and strong proximity to daily needs, while elevated home values support continued reliance on multifamily housing. Being newer than much of the local stock, the property can capture value-add upside through targeted system upgrades and interior improvements, positioning it well against older comparables.
Investor considerations include measured affordability pressure (rent-to-income around 30%) and safety metrics that trail metro and national norms, which may warrant enhanced security and proactive lease management. Balancing those risks, household growth within 3 miles and rising incomes expand the tenant base, while employer access supports leasing stability and renewal potential.
- Amenity-rich urban core with dense groceries, cafes, and services supports consistent leasing
- High renter concentration indicates a deep tenant pool and stable demand
- 1988 vintage offers value-add potential to outperform older nearby stock
- Nearby employers bolster workforce housing demand and renewal prospects
- Risks: below-average safety and affordability pressure call for security, asset upgrades, and disciplined lease management