| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 71st | Best |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3945 N Virginia Rd, Long Beach, CA, 90807, US |
| Region / Metro | Long Beach |
| Year of Construction | 1988 |
| Units | 25 |
| Transaction Date | 2003-02-02 |
| Transaction Price | $2,150,000 |
| Buyer | NOVINSHOAR RUSSELL |
| Seller | VILLA ALONDRA LTD |
3945 N Virginia Rd Long Beach Multifamily Investment
Neighborhood occupancy trends in the mid-90s and a high-cost ownership market point to durable renter demand in Bixby Knolls, according to WDSuite s CRE market data.
Situated in Long Beach s Bixby Knolls area, this 25-unit asset benefits from a neighborhood rated B+ and ranked 388 out of 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods competitive among peer subareas. Elevated home values rank in the top percentile nationally, reinforcing reliance on multifamily housing and supporting pricing power and lease retention for well-managed properties.
Amenity access is mixed: cafes and parks index in the top quartile nationally, while grocery and pharmacy options are thinner within the immediate neighborhood footprint. Average school ratings are also top quartile nationwide, which can aid household retention and appeal to tenants prioritizing education access.
Neighborhood occupancy sits above the national median, while median rents are high versus U.S. benchmarks yet supported by incomes that also score above national averages. Rent-to-income metrics indicate relatively lower affordability pressure than many coastal submarkets, which can help stabilize renewals, though thoughtful lease management remains important.
Vintage context matters: the neighborhood s average construction year trends older (late 1960s). With a 1988 build, the property is newer than much of the local stock, suggesting competitive positioning with potential to capture demand from renters seeking more contemporary layouts. Investors should still plan for selective modernization and systems updates typical of late-1980s assets.
Tenure patterns indicate a modest neighborhood renter concentration, implying a balanced housing base. For multifamily owners, this supports steady but competitive absorption dynamics: a meaningful tenant pool exists, while elevated ownership costs sustain demand for quality rentals.
Within a 3-mile radius, demographics show near-flat population alongside growth in households and smaller average household size, expanding the renter pool over time. This points to a broader base of potential tenants even as overall headcount remains stable, supporting occupancy durability for well-located communities.
Safety conditions compare below national medians, with neighborhood crime metrics ranking weaker relative to many Los Angeles-Long Beach-Glendale areas (ranked 1,308 of 1,441 metro neighborhoods). Nationally, the area sits in a lower safety percentile, indicating investors should underwrite active property management and security measures appropriate to an urban-adjacent setting.
Recent estimates indicate a year-over-year uptick in property and violent offenses at the neighborhood level. While trends can be cyclical, prudent planning lighting, access control, and partnerships with local patrol resources can support resident satisfaction and retention without overreliance on concessions.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience, including chemicals, healthcare, telecommunications, and defense-related offices listed below.
- Air Products & Chemicals industrial gases (2.6 miles)
- Airgas industrial gases (3.8 miles)
- Molina Healthcare healthcare services (4.4 miles) HQ
- Time Warner Business Class telecommunications (7.9 miles)
- Raytheon Public Safety RTC defense & aerospace offices (8.0 miles)
Built in 1988, this 25-unit community is newer than much of the surrounding housing stock, providing a competitive edge while leaving room for targeted value-add upgrades. High ownership costs and above-median neighborhood occupancy support rental demand and lease retention, while rent-to-income levels suggest manageable affordability pressure compared with many coastal peers. According to commercial real estate analysis from WDSuite, the neighborhood s top-quartile amenities (parks and cafes) and strong school ratings further reinforce livability appeal that can translate to stable tenancy.
Within a 3-mile radius, households have increased and are projected to expand further even as population remains relatively flat, implying smaller household sizes and a broader tenant base over time. This dynamic, combined with a balanced tenure mix and proximity to diversified employers, supports durable absorption prospects; investors should still account for localized safety considerations and selective capital needs typical of late-1980s construction.
- Newer 1988 vintage than neighborhood average, with potential for targeted modernization
- High-cost ownership market supports multifamily demand and pricing power
- Above-median occupancy and balanced renter concentration aid leasing stability
- Top-quartile parks, cafes, and strong schools bolster retention
- Risks: below-median safety metrics and limited immediate grocery/pharmacy options warrant active management