| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 57th | Good |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2925 E 7th St, Long Beach, CA, 90804, US |
| Region / Metro | Long Beach |
| Year of Construction | 1988 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2925 E 7th St Long Beach Multifamily Investment
This 30-unit property benefits from strong renter demand in a neighborhood where 76% of housing units are renter-occupied, well above typical market levels. CRE market data from WDSuite confirms occupancy rates remain stable at 94% neighborhood-wide.
Located in Long Beach's urban core, this neighborhood ranks in the top quartile nationally for amenities with excellent access to grocery stores, restaurants, and childcare facilities. The area maintains a 76% renter share among housing units, creating consistent demand for multifamily properties.
Built in 1988, this property requires consideration for capital improvements as the neighborhood's average construction year is 1958. However, this vintage positioning offers potential value-add opportunities through strategic renovations and modernization efforts.
Demographics within a 3-mile radius show a stable population of 230,000 residents with household incomes averaging $100,924. Forecasts indicate household growth of 34% over the next five years, expanding the potential tenant base. Contract rents have increased 39% over five years to a current median of $1,664, though affordability pressures may require careful lease management given the current rent-to-income dynamics.
The neighborhood's occupancy rate of 94% compares favorably to regional averages, ranking above the metro median among 1,441 neighborhoods in the Los Angeles-Long Beach-Glendale metro. Home values averaging $686,000 reinforce rental demand as elevated ownership costs keep households in the multifamily market.
Safety considerations require attention in this urban core location. The neighborhood ranks in the lower portion among 1,441 metro neighborhoods for both property and violent crime rates, with property offense rates showing a 34% increase over the past year.
Investors should factor security measures and tenant screening into their operating strategy. While crime trends present challenges, the area's strong employment base and transit accessibility continue to support rental demand from working professionals.
The property benefits from proximity to major corporate employers providing workforce housing opportunities for healthcare and manufacturing professionals.
- Molina Healthcare — healthcare services (2.6 miles) — HQ
- Air Products & Chemicals — industrial chemicals (5.0 miles)
- Airgas — industrial gases (7.4 miles)
- International Paper — packaging manufacturing (7.9 miles)
This 30-unit property offers value-add potential in a neighborhood with fundamentally strong rental dynamics. The 76% renter occupancy rate significantly exceeds national averages, while neighborhood-level occupancy of 94% demonstrates consistent demand. Built in 1988, the property's vintage creates opportunities for strategic improvements to capture rent growth in a market where contract rents have increased 39% over five years.
Demographic projections show household growth of 34% over five years within a 3-mile radius, expanding the tenant base. However, investors should monitor affordability pressures and crime trends that may impact operations and require proactive management strategies.
- High renter concentration at 76% supports consistent multifamily demand
- Neighborhood occupancy of 94% indicates stable rental market
- 1988 construction offers value-add renovation opportunities
- Proximity to major employers including Molina Healthcare headquarters
- Crime trends require enhanced security measures and tenant screening protocols