| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 63rd | Good |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3500 Cedar Ave, Long Beach, CA, 90807, US |
| Region / Metro | Long Beach |
| Year of Construction | 1974 |
| Units | 20 |
| Transaction Date | 1995-04-06 |
| Transaction Price | $755,000 |
| Buyer | PINNACLE HERITAGE LLC |
| Seller | BOKMAN ISRAEL A |
3500 Cedar Ave Long Beach Multifamily Investment
This 20-unit property built in 1974 operates in a neighborhood with above-average occupancy rates and strong rental demand fundamentals. According to WDSuite's CRE market data, the area ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for overall investment quality.
The Cedar Ave neighborhood ranks 127th out of 1,441 metro neighborhoods, placing it in the top decile for overall investment fundamentals. With 59% renter-occupied housing units within a 3-mile radius, the area maintains strong rental demand dynamics. Neighborhood-level occupancy rates of 95.1% exceed the 72nd national percentile, indicating stable tenant retention and absorption patterns.
Built in 1974, this property aligns with the neighborhood's average construction year of 1972, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. The area's median contract rent of $1,957 ranks in the 91st national percentile, supporting rental pricing power in this Long Beach submarket.
Demographics within a 3-mile radius show a population of approximately 198,600 residents with projected household growth of 34% through 2028, expanding the potential tenant base. Current median household income of $75,000 is expected to increase 53% over the next five years, supporting rent growth potential. The rent-to-income ratio suggests affordability pressures that require careful lease management considerations.
The neighborhood offers strong amenity density, ranking in the 93rd national percentile, with robust access to grocery stores, parks, and childcare facilities. Home values averaging $616,000 create elevated ownership costs that reinforce rental demand and sustain renter reliance on multifamily housing options.
Safety metrics for this neighborhood present mixed signals that warrant investor attention. The area ranks 1,312th out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the 23rd national percentile. Property offense rates and violent crime statistics both fall below regional averages, with recent trends showing increases that require monitoring.
While these metrics indicate elevated crime levels compared to metro benchmarks, investors should consider the broader context of urban core locations and factor security considerations into property management and tenant screening strategies. The neighborhood's strong fundamentals in other areas may offset safety concerns for investors comfortable with urban multifamily assets.
The employment base around Cedar Ave benefits from proximity to major corporate offices and healthcare headquarters that support workforce housing demand and commuter convenience.
- Air Products & Chemicals — industrial chemicals (2.2 miles)
- Molina Healthcare — healthcare services (3.7 miles) — HQ
- Airgas — industrial gases (4.5 miles)
- Time Warner Business Class — telecommunications (8.4 miles)
- Raytheon Public Safety RTC — defense & aerospace (8.7 miles)
This 20-unit Long Beach property offers investors exposure to a top-decile neighborhood with sustained rental demand fundamentals. The 95.1% neighborhood-level occupancy rate and 59% renter-occupied housing base provide stability indicators, while projected household growth of 34% through 2028 supports long-term tenant pool expansion. Built in 1974, the property presents potential value-add opportunities through strategic renovations that could capture upside in a market with strong rent growth projections.
According to multifamily property research from WDSuite, the area's high home values and elevated ownership costs reinforce rental demand, creating a defensive moat against ownership competition. The neighborhood's 93rd percentile amenity ranking and proximity to major employers like Molina Healthcare headquarters enhance tenant appeal and retention potential.
- Top-decile neighborhood ranking among 1,441 Los Angeles metro areas
- Strong occupancy fundamentals with 95.1% neighborhood-level rates
- Projected 34% household growth through 2028 expanding tenant base
- Value-add renovation potential given 1974 construction vintage
- Safety metrics below metro averages require enhanced security considerations