| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 55th | Good |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 333 Magnolia Ave, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1972 |
| Units | 46 |
| Transaction Date | 2001-12-13 |
| Transaction Price | $109,154 |
| Buyer | MASUDA INVESTMENTS LLC |
| Seller | DELONG JOHN D |
333 Magnolia Ave Long Beach Multifamily Investment
This 46-unit property from 1972 sits in a highly amenitized urban core neighborhood with 93.1% occupancy and strong renter demand, according to CRE market data from WDSuite.
The property sits in a top-tier amenitized Long Beach neighborhood ranking 43rd among 1,441 metro neighborhoods for amenities and reaching the 96th percentile nationally. With 13.27 grocery stores per square mile (top 2% of metro neighborhoods), 65.25 restaurants per square mile (top 3% of metro neighborhoods), and exceptional walkability, the area provides strong tenant retention fundamentals through convenience and lifestyle appeal.
Demographics within a 3-mile radius show 76.2% of housing units are renter-occupied, creating a substantial tenant pool of 181,212 residents. The neighborhood maintains 93.1% occupancy with median contract rents at $1,542, positioning the area competitively within the metro rental market. Forward-looking household projections indicate 36% growth in total households through 2028, expanding the renter base and supporting sustained demand.
Built in 1972, this property aligns with the neighborhood's average construction year of 1963, suggesting opportunities for value-add improvements and modernization. The urban core location benefits from high amenity density while home values averaging $501,799 reinforce rental demand by maintaining elevated ownership costs that keep households in the multifamily market.
School ratings average 1.75 out of 5, ranking in the bottom quartile among metro neighborhoods, which may limit appeal to family renters but supports demand from young professionals and non-family households who prioritize location and amenities over school quality.
The neighborhood faces safety challenges with property offense rates ranking 1,330th among 1,441 metro neighborhoods and reaching only the 7th percentile nationally. Property crimes increased 22% year-over-year, while violent crime rates rank in the bottom 2% nationally with a 52.6% annual increase.
These crime trends require careful consideration in tenant screening, property management protocols, and security investments. While the urban core location provides amenity access and transit connectivity, investors should factor potential impacts on tenant retention, insurance costs, and the need for enhanced security measures into their underwriting and operating budgets.
The property benefits from proximity to major healthcare and industrial employers that support workforce housing demand in the Long Beach market.
- Molina Healthcare — healthcare services (0.3 miles) — HQ
- Air Products & Chemicals — industrial chemicals (3.5 miles)
- Airgas — industrial gases (7.9 miles)
- International Paper — packaging & paper (10.3 miles)
- Mattel — consumer products (15.1 miles) — HQ
This 46-unit Long Beach property offers value-add potential in a high-amenity urban core location with strong renter demographics. The 1972 construction year presents modernization opportunities while neighborhood occupancy at 93.1% demonstrates rental demand stability. With 76.2% of area housing units renter-occupied and household growth projected at 36% through 2028, the fundamentals support sustained tenant demand despite elevated crime rates that require management attention.
The property's average unit size of 589 square feet targets cost-conscious renters in a market where median home values of $501,799 maintain barriers to ownership. According to multifamily property research from WDSuite, the neighborhood's exceptional amenity density and walkability score in the 96th percentile nationally, supporting tenant retention through lifestyle convenience.
- Strong renter demand with 76.2% of housing units renter-occupied and 36% household growth projected
- Top-tier amenity access ranking 96th percentile nationally supports tenant retention
- Value-add opportunity with 1972 construction allowing for unit and common area modernization
- Proximity to major employers including Molina Healthcare headquarters supports workforce housing demand
- Risk factor: Elevated crime rates require enhanced security measures and careful tenant management