| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1070 Martin Luther King Jr Ave, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 1999-04-28 |
| Transaction Price | $660,000 |
| Buyer | DECRO ALPHA CORP |
| Seller | PHAN THIEN |
1070 Martin Luther King Jr Ave Long Beach 20-Unit Multifamily
High renter concentration and a high-cost ownership market in Long Beach point to a durable tenant base and pricing resilience, according to WDSuite’s CRE market data.
Positioned in Long Beach’s Urban Core, the neighborhood rates A- and is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked within the stronger 40% of 1,441). Amenity access is a clear strength: grocery, restaurant, cafe, and pharmacy density sits in the 93rd–99th national percentiles, which supports day-to-day convenience and renter retention.
For multifamily fundamentals, neighborhood occupancy is in a mid-90s band historically and currently tracks around the national middle, suggesting stable leasing with room for operational execution. A high share of housing units are renter-occupied in the neighborhood (near eight in ten), indicating depth in the tenant base and consistent demand for professionally managed apartments.
Within a 3-mile radius, households have risen modestly in recent years despite a slight population dip, pointing to smaller household sizes and a broader renter pool. Forward-looking data indicates further household growth over the next five years, which typically supports occupancy stability and absorption for well-run assets.
Home values rank high versus national peers and the value-to-income ratio sits in the upper national percentiles. In investor terms, this is a high-cost ownership market, which tends to sustain reliance on rental housing and can aid lease retention. Median contract rents in the neighborhood are elevated relative to much of the country and have posted meaningful five-year growth; operators should balance pricing power against rent-to-income levels to manage retention risk.
The property’s 1985 vintage is newer than the neighborhood’s typical mid-20th-century stock, offering relative competitiveness versus older buildings; investors should still plan for targeted system upgrades and modernization to support rent positioning.
Safety conditions should be evaluated carefully. Relative to the Los Angeles-Long Beach-Glendale metro, the neighborhood’s crime ranking sits in the weaker end of the distribution (closer to the bottom among 1,441 neighborhoods), and national comparisons place the area in low safety percentiles. Investors typically account for this with enhanced on-site management, lighting, access control, and community programming to support resident experience.
Trends can shift at the neighborhood level; monitoring recent reports and engaging local stakeholders is prudent to understand near-term direction and how it may affect leasing, insurance, and operating practices.
Nearby employers span healthcare, industrial gases, and telecommunications, supporting commuter convenience and diversified renter demand for workforce housing. This section highlights Molina Healthcare, Air Products & Chemicals, Airgas, INTERNATIONAL PAPER Cypress Retail Packaging, and Time Warner Business Class.
- 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 (9.1 miles)
- Time Warner Business Class — telecommunications (9.2 miles)
This 20-unit asset benefits from a renter-heavy neighborhood, strong amenity access, and a high-cost ownership backdrop that reinforces reliance on multifamily housing. Neighborhood occupancy trends sit around mid-range nationally, and the area’s renter-occupied share suggests a sizable tenant base. According to CRE market data from WDSuite, home values and value-to-income ratios are elevated versus national norms, which typically supports pricing power but warrants attention to rent-to-income for retention.
Built in 1985, the property is newer than much of the local housing stock, giving it a competitive position against older buildings while still offering scope for targeted value-add through system upgrades and modernization. Within a 3-mile radius, households are increasing and are projected to expand further, which can support occupancy stability and leasing velocity for professionally managed assets.
- Renter-heavy neighborhood supports a deep tenant base and stable demand
- Amenity-rich Urban Core location aids retention and daily convenience
- 1985 vintage offers competitive positioning with potential value-add upside
- High-cost ownership market can reinforce pricing power for quality operations
- Risks: lower safety rankings and affordability pressure require active management