| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1362 Temple Ave, Long Beach, CA, 90804, US |
| Region / Metro | Long Beach |
| Year of Construction | 1987 |
| Units | 32 |
| Transaction Date | 2009-04-10 |
| Transaction Price | $4,000,000 |
| Buyer | Dennis J Swing Revocable |
| Seller | Temple Property LLC |
1382 Temple Ave, Long Beach — 32-Unit 1987 Multifamily
High renter concentration and a high-cost ownership landscape support durable demand and pricing power in this Urban Core pocket of Long Beach, according to WDSuite’s CRE market data. Neighborhood occupancy sits in the mid-90s, pointing to generally steady leasing conditions.
This Urban Core neighborhood earns a B rating and ranks 612 out of 1,441 metro neighborhoods, placing it above the metro median. Amenity access is a relative strength: it ranks 216 of 1,441 for overall amenities and is in the top quartile nationally, with grocery, restaurants, cafes, parks, and childcare densities well above national norms. One notable gap is pharmacy access, which trails local and national averages.
Renters make up a large share of local housing. Neighborhood renter-occupied units account for roughly two-thirds of housing (ranked 219 of 1,441; top decile nationally), indicating a deep tenant base for multifamily owners. Neighborhood occupancy is around the mid-90% range and has held near that level over time, which supports income stability even through cycles.
Within a 3-mile radius, households have grown while population edged down modestly in recent years, reflecting smaller household sizes and a broader shift toward more, smaller households. Forward-looking data point to additional household growth by 2028, which can expand the renter pool and support occupancy. Median rents in the neighborhood benchmark above national norms, while the rent-to-income ratio near 0.27 suggests some affordability pressure to monitor, but not an outlier for Los Angeles County.
Ownership costs are elevated versus national averages (home values near the 90th percentile nationally and a value-to-income ratio in the 96th percentile), which tends to reinforce reliance on rental housing and can aid retention. For context, the property’s 1987 vintage is newer than the neighborhood average vintage of 1968, suggesting relative competitiveness versus older stock, though investors should still plan for ongoing system updates and selective modernization.
Safety conditions warrant prudent management. The neighborhood’s crime rank is 1,320 out of 1,441 metro neighborhoods, indicating higher crime relative to much of the metro. Nationally, the area falls in lower safety percentiles (violent offenses near the 7th percentile and property offenses near the 13th percentile versus neighborhoods nationwide). Recent trend indicators show a year-over-year uptick in violent offenses and a modest increase in property offenses, underscoring the value of security measures, lighting, and partnership with local resources. Comparisons should be made at the neighborhood level rather than block-by-block.
Proximity to healthcare administration, industrial gases, packaging, and telecom offices supports commuter convenience and broad renter demand. Nearby anchors include Molina Healthcare, Air Products & Chemicals, Airgas, INTERNATIONAL PAPER Cypress Retail Packaging, and Time Warner Business Class.
- Molina Healthcare — healthcare administration (2.68 miles) — HQ
- Air Products & Chemicals — industrial gases (4.68 miles)
- Airgas — industrial gases distributor (6.79 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (7.83 miles)
- Time Warner Business Class — telecom services (8.14 miles)
The investment case centers on durable renter demand, solid neighborhood occupancy, and a 1987 vintage that out-positions much of the surrounding 1960s-era housing stock. Elevated ownership costs in the area sustain reliance on rentals, while strong amenity access and proximity to diverse employers support leasing depth and retention. Based on CRE market data from WDSuite, the neighborhood sits above the metro median overall, with particularly strong amenity density that can enhance renter appeal.
Household growth within a 3-mile radius and a high share of renter-occupied units indicate a broad tenant base. Affordability should be monitored—the rent-to-income ratio signals some pressure—but current levels are consistent with many Los Angeles submarkets. The 1987 construction implies competitive positioning with potential for targeted value-add through interior refreshes and building systems updates to capture rent premiums without overextending capex.
- Deep renter base and above-median neighborhood standing support occupancy stability
- 1987 vintage offers competitive positioning versus older stock with selective value-add upside
- Amenity-rich location and access to major employers aid leasing and retention
- Elevated ownership costs in Long Beach reinforce multifamily demand
- Risks: lower safety percentiles and some affordability pressure call for proactive operations