| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 82nd | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1175 E Ocean Blvd, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1988 |
| Units | 33 |
| Transaction Date | 2023-02-08 |
| Transaction Price | $6,240,000 |
| Buyer | POLLOCK FAMILY PROPERTIES II LLC |
| Seller | LABINGER PROPERTIES LLC |
1175 E Ocean Blvd Long Beach Multifamily Investment
Positioned in Long Beach’s amenity-rich urban core, this 33-unit, 1988-vintage asset benefits from a deep renter base and strong neighborhood spending power, according to WDSuite’s CRE market data. The area’s high renter concentration supports demand, while execution should balance rent growth with retention.
Located in the Urban Core of Long Beach, the neighborhood ranks 48 out of 1,441 within the Los Angeles–Long Beach–Glendale metro, indicating it is competitive among Los Angeles–Long Beach–Glendale neighborhoods. Amenity access is a clear strength: restaurants are in the 100th percentile nationally, parks in the 99th percentile, and overall amenities in the low-90s percentiles, supporting day-to-day convenience and resident satisfaction.
The property’s 1988 construction is newer than the neighborhood’s average vintage (1970), which can help it compete against older stock. Investors should still plan for modernization of systems and common areas to sustain positioning against recent deliveries and refreshed comparables.
Renter-occupied share is elevated at the neighborhood level (renter concentration near two-thirds), signaling a broad tenant base for multifamily. Within a 3-mile radius, housing is predominantly renter-occupied as well, reinforcing leasing depth and demand stability for professionally managed assets.
Demographic data aggregated within a 3-mile radius shows households have increased even as population edged down, implying smaller household sizes and continued formation of renter households. Rising median and mean incomes alongside projected gains through 2028 point to a larger qualified renter pool, which can support rent levels and occupancy management for operators with strong resident services and renewal strategies.
Ownership costs are high relative to incomes (national value-to-income metrics sit in the mid-90s percentiles), which tends to sustain multifamily reliance in this submarket. For investors, this typically supports pricing power, though it also elevates affordability sensitivity—suggesting measured rent setting and amenity-led retention will matter.
Safety indicators trail regional leaders. The neighborhood’s crime rank sits near the bottom of the distribution (1,373 out of 1,441 metro neighborhoods), and national safety percentiles are low. Investors should underwrite with prudent assumptions, prioritize on-site management and lighting/security best practices, and monitor municipal trend reports for directionality rather than relying on block-level anecdotes.
Nearby employers provide a stable white-collar and operations-oriented 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 services (1.3 miles) — HQ
- Air Products & Chemicals — industrial gases (4.5 miles)
- Airgas — industrial gases (8.0 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (9.2 miles)
- Time Warner Business Class — telecommunications (9.8 miles)
This 33-unit asset combines a strong amenity ecosystem with deep renter demand drivers in Long Beach’s Urban Core. Based on CRE market data from WDSuite, the surrounding neighborhood features high national amenity percentiles (restaurants, parks, and daily-needs retail) and a sizable renter-occupied base, supporting leasing depth and renewal potential. The 1988 vintage is newer than the area’s average stock, offering a competitive edge versus older buildings while leaving room for targeted value-add and systems upgrades to bolster positioning.
Within a 3-mile radius, households are increasing and incomes are trending higher, expanding the qualified renter pool and supporting rent levels. At the same time, ownership remains a high-cost alternative in this part of Los Angeles County, which typically reinforces reliance on multifamily housing. Operators should balance these strengths against locally weaker safety metrics and affordability pressure by emphasizing resident experience, thoughtful rent management, and selective capex that drives retention.
- Amenity-rich Urban Core location supports leasing velocity and renewal rates.
- Deep renter base at neighborhood and 3-mile levels provides demand stability.
- 1988 vintage offers competitive positioning versus older stock with value-add upside through modernization.
- High-cost ownership market tends to sustain rental reliance, aiding pricing power with prudent execution.
- Risks: below-average safety metrics and affordability pressure require strong management, security, and measured rent strategy.