| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1382 Temple Ave, Long Beach, CA, 90804, US |
| Region / Metro | Long Beach |
| Year of Construction | 1987 |
| Units | 32 |
| Transaction Date | 2006-06-29 |
| Transaction Price | $5,280,000 |
| Buyer | PENSCO TRUST COMPANY |
| Seller | TEMPLE PROPERTY LLC |
1382 Temple Ave, Long Beach Multifamily Opportunity
Neighborhood occupancy remains solid and renter demand is deep, according to WDSuite’s CRE market data, with conditions that favor stable leasing for well-managed assets. These metrics reflect the surrounding neighborhood rather than the property itself, offering context for underwriting and retention planning.
The property sits in Long Beach’s Urban Core with a B neighborhood rating and an overall rank of 612 out of 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods—above the metro median. Amenity access is a relative strength: neighborhood amenity measures are in the top quartile nationally, with especially dense cafes, groceries, restaurants, and park access that can support daily convenience for renters and reduce car-dependence.
Renter concentration is high at the neighborhood level, with a large share of housing units renter-occupied (among the highest nationally). For multifamily owners, this signals a broad tenant base and consistent demand depth. Neighborhood occupancy trends are also comparatively healthy, supporting the case for stable renewals and steady lease-up in typical market conditions.
Within a 3-mile radius, demographic data indicate a slight population decline in recent years alongside an increase in households—implying smaller household sizes and a gradual shift toward more rental households over time. Forecasts show households continuing to grow through 2028, which points to a larger tenant base and supports occupancy stability for well-positioned assets.
Homeownership is a higher-cost proposition in this area relative to incomes, placing the neighborhood among the upper national percentiles for home values and value-to-income ratios. For investors, this typically sustains multifamily demand, supports retention, and can provide pricing power when units are maintained competitively. That said, rent-to-income levels suggest some affordability pressure, so proactive lease management and value delivery remain important.
Vintage context: the neighborhood’s average construction year skews older (late 1960s). With a 1987 build, this asset is newer than much of the local stock, which can enhance competitive positioning; however, investors should still plan for modernization of aging systems and interiors as part of a value-preservation or value-add strategy.
Counterpoints to monitor include below-average school ratings at the neighborhood level and limited pharmacy presence despite strong food-and-beverage and park access. These do not preclude performance but should be weighed in marketing positioning and resident service offerings.
Safety conditions in the immediate neighborhood trend weaker than both national norms and many parts of the Los Angeles metro. The area ranks toward the higher-crime end of the spectrum (using a rank of 1,320 out of 1,441 metro neighborhoods), and national comparisons place the neighborhood in lower safety percentiles for both violent and property offenses. These figures reflect neighborhood-level patterns and not the property itself.
For investors, this typically calls for thoughtful on-site security measures, lighting, and community engagement, as well as underwriting assumptions that account for potential marketing and retention costs. Monitoring local trend data and coordinating with professional management can help sustain leasing performance despite these headwinds.
Nearby employers anchor a diverse workforce within short commuting distances, supporting renter demand and weekday stability. The immediate employment base includes healthcare, industrial gases, packaging, and telecom operations reflected below.
- Molina Healthcare — healthcare services (2.7 miles) — HQ
- Air Products & Chemicals — industrial gases (4.7 miles)
- Airgas — industrial gases (6.8 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (7.8 miles)
- Time Warner Business Class — telecom services (8.1 miles)
This 32-unit, 1987-vintage asset benefits from a renter-heavy Urban Core location where neighborhood occupancy is comparatively solid and amenity density is a clear advantage. Based on CRE market data from WDSuite, the surrounding neighborhood sits above the metro median overall and ranks in the top quartile nationally for everyday amenities, which can aid leasing velocity and renewal capture. High ownership costs relative to incomes reinforce reliance on multifamily, supporting demand durability.
Relative to an area average construction year in the late 1960s, the property’s newer vintage provides a competitive edge, while still allowing room for targeted renovations and system upgrades to drive rent premiums. Demographic trends within a 3-mile radius show more households even as population growth has been muted, indicating smaller household sizes and a larger renter pool—factors that generally support occupancy stability. Key risks to underwrite include neighborhood safety metrics, below-average school ratings, and rent-to-income pressures that warrant attentive leasing and retention strategies.
- Renter-heavy neighborhood and solid occupancy support stable leasing
- 1987 vintage is newer than local stock, with value-add potential through modernization
- Amenity-rich Urban Core location aids demand and renewal capture
- High ownership costs sustain reliance on rentals, supporting pricing power
- Risks: neighborhood safety, school ratings, and affordability pressures require active management