| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1070 Walnut Ave, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 1992 |
| Units | 41 |
| Transaction Date | 1997-06-19 |
| Transaction Price | $910,000 |
| Buyer | ALKOSSER DAVID |
| Seller | THOMAS JOHN |
1070 Walnut Ave Long Beach Urban-Core Multifamily
Amenity-rich Long Beach location with a deep renter base supports leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy is steady and renter demand is reinforced by a high-cost ownership market.
Situated in Long Beach’s Urban Core, the neighborhood surrounding 1070 Walnut Ave carries an A- rating and ranks 303 out of 1,441 metro neighborhoods — a top quartile position that signals competitive fundamentals within the Los Angeles-Long Beach-Glendale region. Amenity access is a clear strength: grocery, dining, and daily-needs options are dense, with amenity availability placing in the top national percentiles, which typically supports leasing velocity and resident retention.
Neighborhood renter concentration is high, with a large share of housing units renter-occupied. For multifamily investors, that depth of renter-occupied stock points to a broad tenant base and consistent demand for apartment product. Neighborhood occupancy is in the low-90s, indicating stabilized performance rather than lease-up dynamics.
Within a 3-mile radius, households increased over the past five years even as population edged lower, reflecting smaller household sizes and a shifting mix that can expand the renter pool. Forward-looking data show further growth in household counts alongside rising incomes and continued rent gains, which can support occupancy stability and measured pricing power if managed thoughtfully.
Home values are elevated relative to local incomes (high value-to-income ratios), a typical pattern in coastal California metros. For apartments, a high-cost ownership landscape tends to sustain reliance on rental housing, supporting tenant retention. At the property level, a 1992 construction year is newer than the neighborhood’s older housing stock, positioning the asset as relatively competitive versus mid-century buildings while still leaving room for modernization to strengthen unit finishes and energy systems.
Safety indicators for this neighborhood trend below national and metro benchmarks. The area ranks toward the higher-crime end of the 1,441 Los Angeles metro neighborhoods and sits in lower national safety percentiles, especially for violent incidents. For investors, this calls for pragmatic operating plans — targeted security measures, lighting and access controls, and attentive tenant screening — to support resident experience and retention.
Recent neighborhood data also point to year-over-year increases in both property and violent offenses. These patterns are not uncommon in dense urban cores and can vary block to block; underwriting should reflect realistic operating expenses and community engagement strategies rather than relying on short-term improvement assumptions.
Nearby employers provide a diversified white-collar and operations-oriented employment base that can underpin renter demand and reduce commute frictions. The list below highlights healthcare, industrial gases, packaging, and telecom offices within a short drive.
- Molina Healthcare — healthcare services (1.9 miles) — HQ
- Air Products & Chemicals — industrial gases (4.1 miles)
- Airgas — industrial gases (7.0 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (8.6 miles)
- Time Warner Business Class — telecom/business services (8.9 miles)
The investment case centers on durable renter demand, amenity-driven livability, and relative competitiveness versus older stock. Neighborhood occupancy trends in the low-90s and a high share of renter-occupied units point to a sizable tenant base. Based on CRE market data from WDSuite, elevated home values versus incomes characterize this pocket of Long Beach, which typically supports lease retention for well-managed apartments. The 1992 vintage is newer than much of the surrounding housing stock, suggesting potential to outperform older comparables with targeted renovations and operational upgrades.
Demographic data within a 3-mile radius show households rising despite modest population contraction, indicating smaller household sizes and potential renter pool expansion. Forward projections call for additional household growth and income gains alongside rising rents — supportive for long-term cash flow if affordability and safety are proactively managed.
- Amenity-dense Urban Core location supports leasing velocity and retention
- High renter-occupied share and steady neighborhood occupancy underpin demand
- 1992 construction offers a competitive edge versus older stock with value-add upside
- Household growth and income gains in a 3-mile radius support long-term absorption
- Risks: below-average safety and affordability pressure require active operating oversight