| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1088 Alamitos Ave, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 1979 |
| Units | 22 |
| Transaction Date | 2017-01-19 |
| Transaction Price | $3,275,000 |
| Buyer | 1088 ALAMITOS AVE LLC |
| Seller | PS REALTY HOLDINGS |
1088 Alamitos Ave Long Beach Urban-Core Multifamily Investment
Strong renter-occupied housing in the surrounding neighborhood supports a deep tenant base and steady leasing potential, according to CRE market data from WDSuite.
Located in Long Beach s Urban Core, the neighborhood ranks 303 out of 1,441 in the Los Angeles Long Beach Glendale metro placing it in the top quartile among metro neighborhoods. Amenity access is a core strength: neighborhood amenity measures sit in the 95th percentile nationally, with cafes, restaurants, groceries, parks, and pharmacies testing well above national averages. These factors typically translate into strong day-to-day convenience and competitive renter appeal.
The area skews heavily renter-occupied at the neighborhood level (high renter concentration), indicating a broad tenant pool and potential for consistent leasing. Neighborhood occupancy is around the metro median, suggesting stable demand with room for asset-level differentiation through management and renovations. Median home values in the neighborhood are elevated versus national norms, which tends to sustain reliance on rental housing and can support pricing power for well-maintained units without overextending renewal risk management.
Within a 3-mile radius, households have increased while overall population edged lower in recent years, pointing to smaller household sizes and continued depth in the renter pool. Income levels in the same 3-mile view have risen meaningfully, and rents have trended upward, reinforcing the case for durable demand for well-positioned multifamily product. School ratings in the neighborhood track around the national middle, which may be neutral for family-driven leasing but is mitigated by the area s access to jobs and amenities.
Vintage context matters for capital planning. The neighborhood s average construction year trends older; the subject property s 1979 vintage is newer than much of the local stock. That can provide a relative competitiveness edge versus pre-1960 properties, while still warranting targeted system upgrades or value-add improvements to meet today s renter expectations.
Safety indicators for the neighborhood trend weaker than national averages and rank near the lower end among 1,441 metro neighborhoods. Recent year-over-year readings show increases in both property and violent offenses, so investors should underwrite to thoughtful security measures, lighting, and community engagement, and compare trends against nearby submarkets to calibrate leasing and retention assumptions.
Nearby employers provide a diverse white-collar and services employment base that supports renter demand and commute convenience, including Molina Healthcare, Air Products & Chemicals, Airgas, INTERNATIONAL PAPER Cypress Retail Packaging, and Time Warner Business Class.
- Molina Healthcare healthcare (1.6 miles) HQ
- Air Products & Chemicals industrial gases (3.8 miles)
- Airgas industrial gases (7.0 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging packaging (9.0 miles)
- Time Warner Business Class telecom services (9.1 miles)
This 22-unit, 1979-vintage asset sits in a top-quartile Urban Core neighborhood with exceptional amenity access and a high share of renter-occupied housing at the neighborhood level both supportive of steady tenant demand. Neighborhood occupancy trends around the metro median, creating room for asset-level outperformance through renovations, curb appeal, and operational execution. Elevated neighborhood home values help sustain rental reliance, while the 3-mile view shows rising household counts and income growth that expand the renter pool and support occupancy stability.
The property s vintage is newer than much of the surrounding stock, which can enhance competitive positioning versus older buildings, though selective capital upgrades for building systems and interiors may unlock additional value-add upside. According to CRE market data from WDSuite, local fundamentals and amenity density are consistent with durable renter demand; underwriting should still account for safety headwinds and rent-to-income pressures with prudent lease management.
- Urban Core location with top-quartile metro ranking and strong amenity access that supports leasing velocity
- High neighborhood renter concentration indicates depth of tenant demand and potential retention benefits
- 1979 vintage is newer than much of local stock, with value-add potential through targeted system and interior upgrades
- 3-mile household and income growth bolster the renter pool and support occupancy stability
- Risks: neighborhood safety metrics and rent-to-income pressure warrant conservative underwriting and proactive lease management