| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1128 E 4th St, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1985 |
| Units | 54 |
| Transaction Date | 2016-11-22 |
| Transaction Price | $8,718,000 |
| Buyer | Paul S Ling K & Edythe I-Tze Ling |
| Seller | ME Miller Family Trust, Private Investor, Jacqulyn Miller, PCraicseh/ uEnqitu aivnadle /nsft |
1128 E 4th St, Long Beach Multifamily
Urban-core location with deep renter demand and strong amenity access supports steady leasing, according to WDSuite’s CRE market data. Investor focus centers on renter concentration and competitive positioning versus older neighborhood stock.
Location & neighborhood quality: The property sits in Long Beach’s Urban Core, with the neighborhood rated A- and ranked 303 out of 1,441 within the Los Angeles–Long Beach–Glendale metro—competitive among metro neighborhoods. Amenities are a clear strength, with neighborhood access to groceries, restaurants, cafes, and pharmacies placing in the top decile nationally, which tends to support renter retention and day-to-day livability for tenants.
Rents, renter concentration, and demand depth: Neighborhood rents are above many U.S. locations (nationally high percentile), while the share of housing units that are renter-occupied is elevated at the neighborhood level (79.2%), indicating a large tenant base and consistent leasing visibility for multifamily. Neighborhood occupancy runs in the low-90% range, suggesting stable, but competitive, leasing conditions where asset quality and operations matter.
Demographics (3-mile radius): Within a 3-mile radius, the total population has edged down in recent years while household counts have increased modestly, pointing to smaller household sizes and a broader pool of renter households. Projections indicate further increases in households and incomes alongside smaller average household sizes, which typically supports multifamily absorption and occupancy stability even when population growth is muted.
Ownership costs and affordability: Elevated home values and a high value-to-income ratio position this as a high-cost ownership market, reinforcing reliance on rental housing. For investors, that dynamic can underpin demand and pricing power, though rent-to-income levels warrant ongoing lease management to balance growth with retention.
Asset vintage & positioning: Built in 1985, the property is newer than much of the surrounding housing stock (average neighborhood vintage mid-1950s). That relative youth can aid competitiveness versus older product; however, systems are no longer new, and targeted modernization or value-add may be needed to optimize rents and operating efficiency.
Safety metrics indicate the neighborhood trends less favorably than many parts of the metro and nation. Crime ranks closer to the bottom among 1,441 metro neighborhoods, and national comparisons place the area in lower safety percentiles, signaling a need for prudent on-site security, lighting, and access controls.
For investors, this context doesn’t preclude performance but does argue for underwriting that includes security-related operating costs and a focus on tenant experience. Monitoring neighborhood trends and coordinating with local resources can help maintain leasing momentum and retention.
Proximity to medical, industrial, and media-related employers supports a broad renter base and commute convenience for workforce households, which can aid leasing stability. Notable nearby employers include Molina Healthcare, Air Products & Chemicals, Airgas, International Paper Cypress Retail Packaging, and Time Warner Business Class.
- Molina Healthcare — healthcare services (1.35 miles) — HQ
- Air Products & Chemicals — industrial gases (4.28 miles)
- Airgas — industrial gases distribution (7.67 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging operations (9.07 miles)
- Time Warner Business Class — telecom/business services (9.53 miles)
This 54-unit, 1985-vintage asset benefits from an Urban Core location with top-tier amenity access and a renter-leaning neighborhood. The property’s relative youth versus nearby 1950s-dominant stock supports competitive positioning, while a large renter base and stable neighborhood occupancy favor consistent leasing. Elevated ownership costs in the area further sustain reliance on multifamily housing.
Operationally, investors should plan for selective modernization to capture value-add upside and to differentiate against older product. Based on commercial real estate analysis and CRE market data from WDSuite, rent levels and rent-to-income dynamics argue for disciplined revenue management focused on retention and steady growth rather than aggressive near-term pushes.
- Urban-core location with top-tier amenity access supports tenant retention and lease-up
- Renter-occupied share is high, indicating a deep tenant base for multifamily demand
- 1985 construction offers competitive positioning versus older neighborhood stock with targeted upgrades
- High-cost ownership market reinforces rental demand and pricing power potential
- Risk: Below-average safety metrics require prudent security planning and realistic underwriting