| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 55th | Good |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 408 Elm Ave, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1995 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
408 Elm Ave Long Beach Multifamily Investment
Neighborhood demand is supported by a high renter concentration and strong amenity access, according to WDSuite’s CRE market data, positioning this asset for steady leasing in Long Beach’s urban core.
This property sits in Long Beach’s Urban Core, where neighborhood metrics — not property-level — indicate a renter-driven market. The area’s renter-occupied share is high, supporting a deeper tenant base and potential lease stability. Neighborhood occupancy trends are healthy and slightly above national norms, which can aid renewal rates and reduce downtime in typical cycles, based on CRE market data from WDSuite.
Amenity access is a notable strength. The neighborhood ranks competitively among 1,441 Los Angeles–Long Beach–Glendale neighborhoods and lands in the top quartile nationally for overall amenities, with dense coverage of groceries, restaurants, parks, and pharmacies. For investors, this mix generally supports absorption, resident retention, and day-to-day convenience valued by urban renters.
The building’s 1995 vintage is newer than much of the surrounding housing stock. That relative youth can enhance competitive positioning versus older assets common in the area, while still warranting capital planning for mid-life systems and selective unit refreshes to support rent trade-outs.
Within a 3-mile radius, demographics show a large working-age population and rising incomes over recent years, with projections indicating further income growth and an increase in households. Even as population is roughly flat to slightly lower, smaller average household sizes point to a larger renter pool over time, which can support occupancy stability. Elevated home values relative to incomes in the neighborhood reinforce reliance on rental housing, which can bolster tenant demand and pricing power for well-maintained units.
Counterpoints for underwriting: average school ratings trail national benchmarks, and the area experienced weaker COVID-era resilience than many peers. These factors argue for thoughtful resident services and asset positioning to sustain retention.
Safety indicators for the neighborhood, measured at the neighborhood level rather than the property, trend below national benchmarks. The area ranks in the lower tier among 1,441 Los Angeles–Long Beach–Glendale neighborhoods and sits in low national percentiles for crime safety, signaling that investors should underwrite for security measures, lighting, and resident screening to support retention and operations.
Investors commonly mitigate these dynamics through on-site management presence, access control, and partnerships with neighborhood programs. Monitoring trend direction alongside comparable submarkets can help calibrate expense assumptions and renewal strategies over the hold.
Nearby employers provide a diversified white-collar and industrial employment base that supports renter demand and commute convenience, including Molina Healthcare, Air Products & Chemicals, Airgas, International Paper (Cypress Retail Packaging), and Time Warner Business Class.
- Molina Healthcare — healthcare services (0.8 miles) — HQ
- Air Products & Chemicals — industrial gases (3.8 miles)
- Airgas — industrial gases (7.7 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (9.6 miles)
- Time Warner Business Class — telecommunications (9.9 miles)
408 Elm Ave offers exposure to an urban Long Beach location where renter concentration and amenity density underpin steady leasing fundamentals. According to CRE market data from WDSuite, neighborhood occupancy is solid with a renter-occupied share well above typical U.S. neighborhoods, supporting a deeper tenant base and renewal potential. The 1995 construction is relatively newer than the area’s average vintage, suggesting competitive positioning versus older stock while warranting targeted updates to sustain rent growth.
Within a 3-mile radius, incomes have risen and households are projected to increase, indicating a larger tenant base even as average household size trends lower. Elevated ownership costs versus incomes reinforce demand for rental options, while proximity to anchor employers broadens the leasing funnel. Key risks to underwrite include below-average school ratings and safety metrics that sit below national percentiles, arguing for prudent operating assumptions and security investments.
- Renter-heavy neighborhood supports demand depth and renewal potential
- Strong amenity access aids absorption and resident retention
- 1995 vintage offers competitive edge vs. older stock with value-add upside
- Employment proximity broadens leasing funnel across healthcare and industrial
- Risks: below-national safety and school metrics — plan for security and resident services