| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 79th | Best |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4142 Elm Ave, Long Beach, CA, 90807, US |
| Region / Metro | Long Beach |
| Year of Construction | 1988 |
| Units | 38 |
| Transaction Date | 2007-03-20 |
| Transaction Price | $7,550,000 |
| Buyer | PACIFIC HOME BUILDERS INC |
| Seller | WADDLE BILL |
4142 Elm Ave Long Beach Multifamily Investment
Positioned in an amenity-rich Long Beach neighborhood with above-median occupancy at the neighborhood level, according to WDSuite’s CRE market data. The 1988 vintage offers a relative edge versus older local stock while still allowing for targeted modernization.
The property sits in a Competitive among Los Angeles-Long Beach-Glendale, CA neighborhoods location (ranked 172 out of 1,441 metro neighborhoods), underscoring strong fundamentals for multifamily demand. Neighborhood metrics reflect the neighborhood, not the property, and point to stable occupancy and a deep renter pool that can help support leasing durability.
Daily needs and lifestyle amenities are a local strength. Cafes and restaurants are dense by national standards (both in the upper percentiles nationally), and groceries, parks, and pharmacies also score well above national averages. Average school ratings in the neighborhood are strong relative to the metro (ranked 121 of 1,441), which can support resident retention for family-oriented renters.
At the neighborhood level, renter concentration is elevated compared with many Los Angeles-area peers (upper-tier renter-occupied share), translating to a deeper tenant base for multifamily operators. Within a 3-mile radius, roughly half of housing units are renter-occupied, and households have trended toward higher incomes over time, supporting demand for well-maintained units.
Rents in the neighborhood track in the upper national percentiles, while neighborhood occupancy has remained above the national median in recent years. High home values (upper national percentiles) create a high-cost ownership market, which can sustain reliance on rental housing and support pricing power and lease retention for competitive properties.
Safety indicators for the neighborhood should be weighed carefully. Compared with the Los Angeles-Long Beach-Glendale, CA metro, this area ranks in the lower safety tiers (1301 out of 1,441 neighborhoods), and national percentiles indicate below-median safety levels. Recent estimates show a modest year-over-year decline in property offenses, while violent-offense estimates increased; ongoing monitoring and appropriate property-level measures (lighting, access control, and active management) are prudent for long-term operations.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience, including Air Products & Chemicals, Airgas, Molina Healthcare, Raytheon Public Safety RTC, and Time Warner Business Class.
- Air Products & Chemicals — industrial gases & engineering (2.9 miles)
- Airgas — industrial gases (3.5 miles)
- Molina Healthcare — healthcare services (4.7 miles) — HQ
- Raytheon Public Safety RTC — defense & technology offices (7.7 miles)
- Time Warner Business Class — telecom services (7.7 miles)
Built in 1988, the asset is newer than much of the surrounding stock, which skews to earlier vintages. That positioning can reduce near-term capital intensity relative to older comparables while still offering value-add potential through selective interior upgrades and systems modernization. Neighborhood occupancy has held above the national median and renter depth is solid, supporting leasing stability; according to CRE market data from WDSuite, local rents and home values sit in higher national percentiles, reinforcing demand for quality rentals.
Within a 3-mile radius, households and incomes have trended upward over time and are projected to continue growing, with household sizes gradually declining—factors that typically expand the renter pool and support absorption. Strong amenity access and school ratings further underpin livability and retention, while the high-cost ownership environment in Long Beach tends to sustain renter reliance on multifamily housing.
- 1988 vintage offers competitive positioning versus older neighborhood stock with targeted renovation upside
- Above-median neighborhood occupancy and elevated renter concentration support demand and retention
- High home values and strong amenity access bolster pricing power for well-managed assets
- 3-mile household growth and rising incomes point to a larger tenant base over time
- Risk: neighborhood safety metrics trail metro and national medians; active management and security planning recommended