| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 18th | Poor |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1643 Pacific Ave, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 2007 |
| Units | 42 |
| Transaction Date | 2019-09-10 |
| Transaction Price | $2,677,500 |
| Buyer | 1643 PACIFIC LLC A CA LTD LLIABILITY CO |
| Seller | PACIFIC CITY LIGHTS A CALIFORNIA LP |
1643 Pacific Ave Long Beach Multifamily Investment
Renter demand is deep in this Urban Core pocket, with neighborhood occupancy holding above national medians and ownership costs elevated, according to WDSuite’s CRE market data. This 2007 vintage asset offers competitive positioning versus older local stock and supports stable operations in a high-renter area.
Located in Long Beach Los Angeles County, the area surrounding 1643 Pacific Ave is an Urban Core neighborhood with strong renter fundamentals. The share of housing units that are renter-occupied is very high (99th percentile nationally), which points to a large tenant base and supports leasing velocity and renewal depth for multifamily operators.
Neighborhood occupancy is around the national upper half (60th percentile), with modest softening over the past five years. For investors, this suggests generally stable absorption with some sensitivity to broader economic cycles. Median contract rents in the neighborhood sit above the national midpoint and have grown over the last cycle, aligning with sustained demand pressures seen in comparable urban submarkets.
Daily needs are well served by food-related retail grocery access is strong (around the 91st percentile nationally), and restaurant density is among the highest in the metro (competitive among 1,441 Los Angeles Long Beach Glendale neighborhoods). By contrast, cafes, parks, and pharmacies are limited locally, which may shift some lifestyle and recreation trips to nearby districts.
Within a 3-mile radius, demographics indicate a slight pullback in total population in recent years while household counts have increased, signaling smaller household sizes and a steady renter pool. Forecasts point to further household growth with smaller average household sizes, which typically supports multifamily demand through a larger number of renting households. Elevated home values (94th percentile nationally) characterize a high-cost ownership market, which tends to sustain renter reliance on multifamily housing and can aid pricing power and lease retention when managed thoughtfully.
The average neighborhood school rating trends below national norms, which is a consideration for family-oriented renters. The area’s construction stock is older on average, and a 2007-built property can compete effectively against pre-war and mid-century assets, while still warranting ongoing system updates and selective common-area refreshes to maintain positioning.
Safety conditions should be evaluated carefully. Relative to other neighborhoods in the Los Angeles Long Beach Glendale metro (1,441 neighborhoods total), crime ranks in the lower tier, indicating higher incident levels than many peer areas. Nationally, the neighborhood sits in a lower safety percentile, so proactive property and perimeter management, lighting, and coordination with local resources are important operating considerations.
Investors can frame this as a risk to retention and operating costs but also note that Urban Core submarkets with similar profiles often sustain demand due to proximity to jobs and services. Trend monitoring and on-site measures typically play a meaningful role in stabilizing operations.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience, led by healthcare, industrial gases/chemicals, telecom services, and packaging. Highlights include Molina Healthcare, Air Products & Chemicals, Airgas, Time Warner Business Class, and International Paper Cypress Retail Packaging.
- Molina Healthcare — healthcare services (1.5 miles) — HQ
- Air Products & Chemicals — industrial gases & chemicals (2.8 miles)
- Airgas — industrial gases (6.7 miles)
- Time Warner Business Class — telecom services (9.5 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging & paper (9.8 miles)
This 42-unit, 2007-built asset is positioned in a high-renter Urban Core neighborhood where occupancy trends sit above national medians and the renter-occupied share is among the highest nationwide. Elevated for-sale home values in the area reinforce reliance on rental housing, supporting depth of demand and pricing power when paired with disciplined lease management. According to CRE market data from WDSuite, neighborhood restaurant and grocery access are strong relative to peers, while safety and school ratings are weaker—factors that warrant targeted on-site measures and a resident experience strategy.
Vintage is a relative advantage versus the local stock, which skews much older. The property should compete well on systems and finishes versus pre-2000 assets, though selective modernization and security investments may be prudent. Demographic indicators within a 3-mile radius show household growth alongside smaller household sizes—conditions that typically expand the renter pool and support occupancy stability over time.
- High renter concentration and above-median neighborhood occupancy support stable leasing
- 2007 vintage competes well versus older local stock with potential value-add via targeted upgrades
- Elevated ownership costs in the area reinforce rental demand and can aid pricing power
- Strong food and grocery access; limited parks/cafes may push some lifestyle trips to nearby nodes
- Risks: lower safety and school ratings, plus affordability pressure requiring careful lease and retention management