| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 37th | Fair |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1340 E South St, Long Beach, CA, 90805, US |
| Region / Metro | Long Beach |
| Year of Construction | 1989 |
| Units | 25 |
| Transaction Date | 1998-12-16 |
| Transaction Price | $244,090 |
| Buyer | SOUTHSTREET PARTNERS LLC |
| Seller | NORTHERN TRUST BANK OF CALIFORNIA NA |
1340 E South St, Long Beach CA Multifamily Investment
Neighborhood occupancy trends and a majority renter-occupied housing base point to durable demand and leasing stability, according to WDSuite s CRE market data. Positioned for workforce renters in North Long Beach, the asset s scale and unit mix can benefit from local renter depth.
This Urban Core neighborhood in Long Beach shows resilient renter fundamentals: the neighborhood s occupancy rate sits in the top quartile nationally, and renter-occupied housing accounts for just over half of units, indicating a broad tenant base that can support lease-up and renewal velocity. Grocery access is a relative strength (near the top decile nationally) alongside a dense restaurant footprint, though parks, cafes, pharmacies, and childcare options are limited within neighborhood bounds.
Within a 3-mile radius, households have grown modestly in recent years and are projected to expand further, while average household size trends lower supporting formation of more households and a larger renter pool. Median household incomes have risen, and contract rents have advanced at a steady pace, which together suggest capacity for rent absorption with prudent lease management.
Elevated home values and a high value-to-income ratio place the area among higher-cost ownership markets nationally. For multifamily, that context typically sustains rental demand and supports retention where product quality and pricing are well-matched to incomes. Rent-to-income levels in the neighborhood remain manageable, which can help balance pricing power with renewal risk.
The average school rating in the neighborhood trails national medians, which may temper appeal for some family households; however, the asset s proximity to daily-needs retail and employment nodes can offset some of that for workforce renters. Based on CRE market data from WDSuite, the property s 1989 vintage is newer than the neighborhood s older housing stock on average, positioning renovations toward modernization and amenities rather than full systems replacement in many cases.
Safety outcomes here track below national averages: overall crime metrics sit in lower national percentiles, and recent violent offense trends have moved higher year over year. In the Los Angeles Long Beach Glendale metro, the neighborhood ranks toward the higher-crime end among 1,441 neighborhoods, indicating investors should underwrite security, lighting, and operational protocols accordingly.
Property offenses are comparatively more moderate than violent offenses, but still below national safety percentiles. For investors, this argues for enhanced site management and partnership with local resources to support resident experience and retention, while recognizing that outcomes can vary block to block within urban neighborhoods.
Nearby employers provide a diversified workforce draw that supports renter demand and commute convenience for residents, including industrial gases, manufacturing, public safety technology, beverages, and healthcare administration.
- Airgas industrial gases (1.6 miles)
- Air Products & Chemicals industrial gases (4.6 miles)
- Raytheon Public Safety RTC public safety technology (5.8 miles)
- Coca-Cola Downey beverages & distribution (5.8 miles)
- Molina Healthcare healthcare administration (6.6 miles) HQ
1340 E South St offers 25 units with larger-than-typical average floor plans, suiting family and roommate demand profiles common to North Long Beach. The 1989 vintage is newer than much of the surrounding stock, creating potential for targeted value-add (interiors, amenities, energy systems) rather than heavy foundational work, while remaining competitive against older comparables. Neighborhood occupancy is strong and renter concentration is just over half of housing units, supporting depth of tenant demand; elevated ownership costs in Los Angeles County further reinforce reliance on rentals. These dynamics, per commercial real estate analysis using WDSuite s data, suggest stable operations with measured upside through renovations and disciplined revenue management.
Counterpoints include below-median school ratings, limited park and cafe supply, and safety metrics that trail national benchmarks factors to reflect in operating strategies and resident experience investments. Affordability management remains important as rents have risen alongside incomes; maintaining value for space and upgrades should aid retention.
- Occupancy in the top quartile nationally with a majority renter-occupied housing base supports leasing stability.
- 1989 vintage vs. older neighborhood stock enables targeted value-add and competitive positioning.
- Larger average unit size aligns with family/roommate demand and can enhance rent-per-foot potential.
- High-cost ownership market in the metro underpins sustained renter demand and renewal depth.
- Risks: below-average safety metrics and limited parks/cafes plan for security, resident experience, and prudent underwriting.