| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 46th | Fair |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 195 W 31st St, Long Beach, CA, 90806, US |
| Region / Metro | Long Beach |
| Year of Construction | 1974 |
| Units | 27 |
| Transaction Date | 1996-07-30 |
| Transaction Price | $705,000 |
| Buyer | GRUBB GAYLE |
| Seller | GOLDEN FOREST PROPERTIES INC |
195 W 31st St Long Beach Multifamily Investment
Neighborhood occupancy remains strong and above national norms, supporting stable renter demand according to WDSuite’s CRE market data. Elevated home values in Long Beach further sustain reliance on rentals, positioning this asset for consistent leasing in an Urban Core setting.
Set within Long Beach’s Urban Core, the property sits in a renter-driven area where neighborhood occupancy is in the top quartile nationally (measured for the neighborhood, not the property). Based on CRE market data from WDSuite, the subarea’s NOI per unit ranks well above national norms, indicating healthy income fundamentals at the neighborhood level even as operators remain focused on retention and expense control.
Daily needs are well covered by a strong concentration of grocery options (high national percentile), and restaurants are comparatively dense for the metro. However, nearby parks, pharmacies, cafes, and childcare are less prevalent within the immediate neighborhood, so residents typically rely on surrounding districts for these amenities.
Within a 3-mile radius, the share of housing units that are renter-occupied is elevated, supporting a deeper tenant base and helping stabilize absorption. Households have grown even as population edged down, pointing to smaller average household sizes and sustained demand for apartment living. This dynamic pairs well with smaller floor plans, supporting leasing velocity and renewal potential.
Home values in the neighborhood are high relative to income (among the higher percentiles nationwide), which reinforces renter reliance on multifamily housing and can support pricing power. Rent-to-income conditions trend manageable for the metro context, aiding lease retention, though operators should remain attentive to affordability pressure during renewals.
Safety indicators for the neighborhood trend below national averages, with rankings placing it toward the higher-crime end among 1,441 metro neighborhoods. National percentiles also suggest the area is less safe than many neighborhoods across the country. Recent data points to a year-over-year uptick in both property and violent offenses at the neighborhood level.
Investors typically address these factors through well-structured operations: lighting, access control, and active management. Comparisons should be made against peer Urban Core locations across the Los Angeles–Long Beach–Glendale metro to set realistic expectations for resident experience and operating practices.
The location benefits from proximity to a diverse employment base that supports workforce housing and commuter convenience, including industrial gases, healthcare administration, and telecom services found within a short drive.
- Air Products & Chemicals — industrial gases (2.2 miles)
- Molina Healthcare — healthcare administration (3.3 miles) — HQ
- Airgas — industrial gases (4.9 miles)
- Time Warner Business Class — telecom services (8.5 miles)
- Raytheon Public Safety RTC — defense & public safety operations (9.0 miles)
This 27-unit asset is positioned within a Long Beach neighborhood that posts high occupancy and above-average NOI per unit at the neighborhood level, supporting income stability and reducing lease-up risk. Elevated for-sale home values relative to income reinforce dependence on rentals, while household growth within a 3-mile radius expands the tenant base even as population trends level. According to CRE market data from WDSuite, neighborhood occupancy performance sits in the top quartile nationally, aligning with investor priorities around consistent collections and retention.
Amenity coverage is anchored by strong grocery and dining access, with more limited parks and cafes nearby. Safety metrics trend below national averages, which may necessitate stronger on-site controls and service-forward management; however, proximity to a diverse employment base supports demand and can aid renewals.
- High neighborhood occupancy and strong NOI-per-unit benchmarks support income durability
- Elevated home values sustain renter reliance, supporting pricing power and renewal odds
- Household growth within 3 miles expands the renter pool despite flat-to-down population trends
- Grocery and dining density underpin livability; limited parks/cafes nearby are a known tradeoff
- Risk: Below-average safety indicators call for proactive security and responsive operations