| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 63rd | Good |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3516 Elm Ave, Long Beach, CA, 90807, US |
| Region / Metro | Long Beach |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2003-07-31 |
| Transaction Price | $125,000 |
| Buyer | BURKE EVA M |
| Seller | STEIN GARY L |
3516 Elm Ave Long Beach Multifamily Investment
Neighborhood data points to durable renter demand and mid-90s occupancy at the neighborhood level, according to WDSuite’s CRE market data. The location’s amenity access and high-cost ownership market support lease retention and pricing discipline for stabilized operations.
Situated in Long Beach’s Urban Core, the property benefits from a neighborhood that is rated A and ranks 127 out of 1,441 metro neighborhoods — competitive among Los Angeles-Long Beach-Glendale submarkets. Amenity access is a clear strength: parks and everyday retail score in the top decile nationally (parks near the 99th percentile; groceries, pharmacies, cafes, and restaurants all in the upper 80s–90s percentiles), supporting daily convenience and renter appeal.
Operationally, the surrounding neighborhood reports an occupancy rate around 95%, above many national readings, which can support income stability through cycles. Renter-occupied housing accounts for roughly a mid-50s share of units in the neighborhood, indicating a deep tenant base that typically underpins steady leasing and renewal activity.
Within a 3-mile radius, households have grown even as population edged lower, implying smaller household sizes and a larger number of renting households over time. Forecasts in the same 3-mile radius suggest continued growth in household counts alongside projected gains in household incomes — dynamics that can expand the tenant pool and support rent collections. Median contract rents in the neighborhood track above national levels (around the 90th percentile), while rent-to-income metrics indicate relatively manageable affordability pressure locally, which can aid retention and reduce turnover costs.
Home values in the area are elevated relative to national benchmarks, reinforcing reliance on multifamily rentals and helping sustain demand depth. For investors, this backdrop — strong amenity density, renter concentration, and stable occupancy — supports a thesis focused on consistent cash flow with selective value-add to capture convenience-driven premiums.
Safety trends should be evaluated with standard diligence. The neighborhood’s crime positioning sits below national medians (national safety percentile in the lower ranges), indicating comparatively higher incident rates versus many U.S. neighborhoods. Recent year-over-year data shows an uptick in both violent and property offenses. Investors typically underwrite with conservative loss assumptions and incorporate measures such as lighting, access control, and community engagement to support tenant experience and retention.
At the metro level, conditions can vary block to block; compare property-level measures with peer assets across the Los Angeles-Long Beach-Glendale area and review recent police reports and insurance loss runs to calibrate risk and operating strategy.
Nearby employers include Air Products & Chemicals, Molina Healthcare, Airgas, Time Warner Business Class, and Raytheon Public Safety RTC — a mix of industrial gases, healthcare, telecommunications, and public safety operations that supports commuting convenience and renter retention.
- Air Products & Chemicals — industrial gases (2.6 miles)
- Molina Healthcare — healthcare services (3.8 miles) — HQ
- Airgas — industrial gases (4.4 miles)
- Time Warner Business Class — telecommunications (8.0 miles)
- Raytheon Public Safety RTC — public safety technology (8.5 miles)
3516 Elm Ave offers exposure to a Long Beach neighborhood with strong amenity density, a sizable renter base, and occupancy near the mid-90s at the neighborhood level. Elevated for-sale housing costs and above-average neighborhood rents signal durable rental demand, while relatively manageable rent-to-income readings support retention and predictable collections. Based on CRE market data from WDSuite, the area’s service-rich environment and proximity to diverse employers reinforce leasing stability across cycles.
Within a 3-mile radius, household counts are rising even as overall population trends are flat to slightly negative, pointing to smaller households and a larger renter pool over time. This, combined with access to parks, groceries, and transit-friendly amenities, supports a thesis centered on steady cash flow with targeted operational improvements rather than heavy repositioning.
- Occupancy stability at the neighborhood level with a deep renter-occupied housing base
- Amenity-rich location (parks, groceries, services) that supports leasing velocity and renewal rates
- Elevated ownership costs reinforce multifamily demand and pricing power
- 3-mile radius shows rising household counts and projected income gains, expanding the tenant pool
- Risk: Safety metrics trail national medians; underwrite conservative expenses and consider security-forward operations