| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 41st | Fair |
| Amenities | 26th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2211 E Poppy St, Long Beach, CA, 90805, US |
| Region / Metro | Long Beach |
| Year of Construction | 1979 |
| Units | 27 |
| Transaction Date | 2001-08-23 |
| Transaction Price | $1,750,000 |
| Buyer | AMUSEMENT INDUSTRY INC |
| Seller | COREPOPPY LLC |
2211 E Poppy St Long Beach Multifamily Investment
This 27-unit property benefits from neighborhood-level occupancy rates of 99.3%, ranking in the top 10% nationally and supporting stable rental income for commercial real estate analysis.
The property sits in an Urban Core neighborhood within the Los Angeles-Long Beach-Glendale metro area, characterized by strong rental demand fundamentals. With 54.9% of housing units occupied by renters, the area ranks in the top 10% nationally for rental concentration, indicating a robust tenant pool for multifamily operators.
Built in 1979, this property predates the neighborhood's average construction year of 1952, presenting potential value-add opportunities through strategic renovations and unit improvements. The vintage aligns with capital planning considerations typical for properties requiring modernization to compete effectively in today's rental market.
Demographics within a 3-mile radius show a stable population base of approximately 255,000 residents, with household incomes averaging $98,275. The area maintains a 52.5% renter share, and median contract rents have increased 30.5% over the past five years to $1,560. Neighborhood-level occupancy of 99.3% significantly outperforms typical metro averages, suggesting limited available inventory and strong tenant retention dynamics.
Local amenities include grocery stores at 2.59 per square mile, ranking in the 87th percentile nationally, which supports tenant convenience and retention. However, the neighborhood shows limited cafe, childcare, and park amenities, which may impact competitive positioning against properties in more amenity-rich locations.
Crime metrics indicate challenges that require careful consideration in underwriting and property management strategies. The neighborhood ranks 1,336 out of 1,441 metro neighborhoods for overall crime, placing it in the 21st percentile nationally. Property offense rates stand at approximately 1,021 incidents per 100,000 residents, with violent crime rates at 358 per 100,000 residents.
Both property and violent crime rates have increased over the past year by 27.7% and 70.4% respectively, trends that warrant monitoring for potential impacts on tenant retention, insurance costs, and security investments. Investors should factor these considerations into operational budgets and leasing strategies while evaluating the property's competitive position within the broader Long Beach multifamily market.
The surrounding employment base includes several corporate offices within reasonable commuting distance, supporting workforce housing demand for the property's tenant profile.
- Airgas — industrial gases and equipment (0.9 miles)
- Raytheon Public Safety RTC — defense and aerospace offices (5.0 miles)
- Coca-Cola Downey — beverage manufacturing (5.0 miles)
- Molina Healthcare — healthcare services (7.3 miles) — HQ
- LKQ — automotive parts distribution (7.7 miles)
This 27-unit property presents a value-add opportunity anchored by exceptional neighborhood occupancy fundamentals. According to CRE market data from WDSuite, the local market maintains 99.3% occupancy rates, ranking in the top 5% nationally and indicating strong tenant demand despite broader market headwinds. The 1979 construction year positions the asset for strategic improvements that could capture upside from the area's rent growth trajectory, which has averaged 30.5% increases over five years.
Demographics within a 3-mile radius support long-term rental demand, with 52.5% of housing units occupied by renters and household formation trends showing stability. The property benefits from proximity to major employers including Airgas, Raytheon, and Molina Healthcare's headquarters, providing workforce housing appeal. However, investors should carefully evaluate crime trends and budget for appropriate security measures and tenant retention strategies in underwriting projections.
- Exceptional 99.3% neighborhood occupancy rates rank in top 5% nationally
- Strong rental market with 52.5% renter-occupied housing units
- Value-add potential from 1979 vintage allowing strategic improvements
- Proximity to major employers supports workforce housing demand
- Rising crime trends require careful security budgeting and management focus