| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 55th | Good |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1160 Pacific Ave, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 1977 |
| Units | 24 |
| Transaction Date | 2017-11-01 |
| Transaction Price | $4,285,000 |
| Buyer | LING PAUL SIONG KUONG |
| Seller | WAYMAN JEFFREY BARNES |
1160 Pacific Ave Long Beach 24-Unit Investment
Neighboring assets show a high renter concentration and low-90s neighborhood occupancy, supporting steady tenant demand, according to WDSuite’s CRE market data. Ownership costs in Long Beach are elevated relative to incomes, which tends to sustain reliance on rental housing in the immediate area.
This Urban Core location in Long Beach sits in the top quartile among 1,441 metro neighborhoods (Neighborhood Rating: A), offering a walkable amenity base with dense grocery, dining, parks, and pharmacy coverage. Restaurants, cafes, and daily-needs retailers are abundant, which helps leasing velocity and retention for workforce and lifestyle renters alike.
The neighborhood’s renter-occupied share is high relative to both metro and national norms, indicating a deep tenant base and durable demand for multifamily units. Neighborhood occupancy is in the low-90s, and rents have trended upward over the recent cycle, signaling resilient renter demand even as households manage affordability pressure. For investors conducting multifamily property research, these dynamics point to stable day-to-day operations with pricing power dependent on unit quality and management execution.
Within a 3-mile radius, demographics show modest population softening alongside a recent increase in total households and a projected rise in household counts with smaller average household sizes. This mix typically expands the renter pool by bringing more one- and two-person households into the market, which can support occupancy stability and absorption of renovated units.
The 1977 vintage is newer than the area’s older average building stock (1960s era). That positioning can be competitive versus nearby legacy assets, while still leaving room for targeted value-add—kitchens/baths, common areas, and systems—where returns justify investment. School ratings in the surrounding area track below national averages, which may tilt demand toward adult and roommate households rather than school-driven moves.
Safety indicators for this neighborhood track below metro averages and rank toward the lower end among 1,441 Los Angeles–Long Beach–Glendale neighborhoods. National comparison percentiles also reflect a comparatively higher-crime environment. Recent year-over-year estimates indicate increases in both property and violent offenses, so investors typically underwrite enhanced security measures, lighting, and tenant screening, and monitor trends over time.
Proximity to regional employers supports commuter convenience and renter retention, with a concentration in healthcare, industrials, and communications services reflected below.
- Molina Healthcare — healthcare services (1.08 miles) — HQ
- Air Products & Chemicals — industrial gases (3.14 miles)
- Airgas — industrial gases & distribution (7.11 miles)
- Time Warner Business Class — communications services (9.74 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging & paper products (9.83 miles)
1160 Pacific Ave offers a 1977-vintage, 24-unit asset positioned in a renter-heavy Long Beach neighborhood where low-90s occupancy and strong amenity access underpin day-to-day leasing fundamentals. Elevated home values relative to incomes in the neighborhood reinforce reliance on rental housing, while a dense employment base within a short commute supports tenant demand and renewal potential. According to CRE market data from WDSuite, neighborhood income and rent trends have moved upward, and average NOI per unit in the area benchmarks competitively versus national norms.
Relative to older 1960s-era stock nearby, this vintage can compete on functionality while still offering value-add upside through modernization and operating improvements. Key underwriting considerations include local safety conditions and rent-to-income pressures, which place a premium on unit quality, effective screening, and resident retention programs.
- Renter-heavy neighborhood with low-90s occupancy supports demand and lease-up stability.
- 1977 vintage competitive versus older area stock, with targeted value-add potential.
- Dense amenities and nearby employers aid renewal rates and day-to-day leasing.
- Elevated ownership costs bolster renter reliance, supporting long-term demand.
- Risks: below-average safety metrics and affordability pressure require prudent underwriting and asset management.