| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 63rd | Good |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3501 Pacific Ave, Long Beach, CA, 90807, US |
| Region / Metro | Long Beach |
| Year of Construction | 1973 |
| Units | 31 |
| Transaction Date | 1998-01-07 |
| Transaction Price | $1,450,000 |
| Buyer | ALAIA LOUIS C |
| Seller | TOWNE INDUSTRIAL PARK |
3501 Pacific Ave Long Beach Multifamily Investment
This 31-unit property benefits from strong neighborhood-level occupancy at 95.1% and high rental demand in a market where 54.3% of housing units are renter-occupied, according to CRE market data from WDSuite.
The property sits in an Urban Core neighborhood rated A overall, ranking in the top 10% among 1,441 metro neighborhoods. Built in 1973, this vintage aligns with the neighborhood average construction year of 1972, presenting potential value-add opportunities through strategic capital improvements and unit renovations.
Neighborhood-level occupancy remains strong at 95.1%, ranking above the 72nd percentile nationally. With 54.3% of housing units renter-occupied—well above the national average—rental demand fundamentals appear solid. The median contract rent of $1,957 ranks in the 91st percentile nationally, while the rent-to-income ratio of 0.28 suggests affordability pressures that require careful lease management and retention strategies.
Demographics within a 3-mile radius show a stable tenant base, with 200,288 residents and a median household income of $74,794. The area maintains high amenity density, ranking in the 93rd percentile nationally, including 4.51 parks per square mile and strong access to grocery stores, childcare, and restaurants that support tenant retention.
Home values at a median of $616,137 remain elevated, which helps sustain rental demand as ownership costs keep households in the rental market longer. The forecast projects household growth of 34.4% by 2028, with median household income expected to rise to $114,970, supporting a larger and more affluent renter pool.
The neighborhood's crime metrics present mixed signals requiring active management consideration. Property offense rates rank in the 26th percentile nationally, while violent crime rates rank in the 16th percentile among neighborhoods nationwide, indicating elevated crime levels compared to national averages.
Both property and violent crime rates have increased over the past year—property offenses up 17% and violent offenses up 72.3%—placing the neighborhood below the 30th percentile nationally for crime trend performance. These factors may influence tenant retention strategies and security considerations for property management.
The property benefits from proximity to several major corporate employers, providing workforce housing opportunities and commute convenience for tenants.
- 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 31-unit property built in 1973 presents a value-add opportunity in a neighborhood with strong rental fundamentals. Commercial real estate analysis shows neighborhood-level occupancy at 95.1% outperforming many metro areas, while 54.3% of housing units remain renter-occupied, indicating sustained demand. The vintage provides renovation upside potential, allowing investors to capture rent premiums through strategic capital improvements.
Demographics within a 3-mile radius support long-term stability, with household growth projected at 34.4% by 2028 and median income expected to rise 53.7% to $114,970. High home values at $616,137 median help maintain rental demand as ownership costs keep households in the multifamily market. However, elevated crime metrics and rent-to-income pressures at 0.28 require active management and retention strategies.
- Strong neighborhood occupancy at 95.1% with high rental tenure at 54.3%
- Value-add potential through 1973 vintage property improvements
- Projected 34.4% household growth and 53.7% income growth by 2028
- High home values sustain rental demand over ownership alternatives
- Risk factors include elevated crime metrics and affordability pressure requiring active management