| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 82nd | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 420 Cedar Ave, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1978 |
| Units | 21 |
| Transaction Date | 2006-03-09 |
| Transaction Price | $2,425,000 |
| Buyer | KHALSA PROPERTY MANAGEMENT CORP |
| Seller | GLAMORE PROPERTIES LLC |
420 Cedar Ave Long Beach Multifamily Investment Thesis
Urban-core renter concentration and strong amenity access underpin demand in Downtown Long Beach, according to WDSuite’s CRE market data, though local occupancy trends warrant disciplined asset management.
Downtown Long Beach functions as an Urban Core hub with dining and parks density that ranks in the top tier nationally for amenities; restaurants and parks are especially abundant, supporting resident convenience and lifestyle. The neighborhood is competitive among Los Angeles-Long Beach-Glendale neighborhoods and shows strong income potential with NOI per unit performing well relative to national peers, based on CRE market data from WDSuite.
Within a 3-mile radius, roughly three-quarters of housing units are renter-occupied, signaling a deep tenant base for small and mid-sized multifamily assets. Over the past five years, the local population edged down while household counts ticked up, indicating smaller household sizes and a renter pool that remains active — dynamics that generally support leasing velocity and renewal potential.
Home values are elevated for the region, which tends to reinforce reliance on rental housing and can aid pricing power for well-located communities. Median contract rents in the 3-mile area have trended upward and are projected to continue rising, suggesting sustained renter demand; operators should balance this with rent-to-income considerations to manage renewal risk.
Neighborhood-level occupancy currently trails metro norms, so underwriters may want to emphasize leasing execution, marketing, and unit positioning. Still, the concentration of amenities, proximity to employment centers, and a large renter-occupied base point to resilient demand drivers for professionally managed product.
Safety indicators in this part of Long Beach trend below national percentiles, reflecting higher reported crime relative to many U.S. neighborhoods. Compared with other Los Angeles-Long Beach-Glendale subareas, conditions are mixed and can vary block to block; owners typically factor in on-site security practices, lighting, and resident engagement as part of standard risk management.
Investors should assess recent trendlines and property-level mitigations alongside comparable communities nearby to gauge retention and operating considerations. Monitoring local initiatives and leasing strategies geared toward well-screened tenancy can help stabilize operations over the hold period.
Nearby employers span healthcare, industrial gases, packaging, and telecom services — a diverse employment base that supports renter demand through short commutes and workforce stability. The following anchors are within a typical renter commute shed:
- Molina Healthcare — healthcare services (0.5 miles) — HQ
- Air Products & Chemicals — industrial gases (3.6 miles)
- Airgas — industrial gases (7.7 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (10.0 miles)
- Time Warner Business Class — telecom services (10.2 miles)
420 Cedar Ave is a 21-unit asset in Downtown Long Beach positioned to capture renter demand from a large urban workforce and strong amenity density. Built in 1978, the property is slightly newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while leaving room for targeted modernization of systems and finishes over a hold period.
Demand is supported by a high share of renter-occupied units within a 3-mile radius, elevated home values that sustain reliance on multifamily housing, and proximity to nearby employers. According to CRE market data from WDSuite, neighborhood occupancy trends lag metro norms, so performance will hinge on active leasing, smart pricing, and retention strategies; operators should also account for affordability pressure and local safety considerations in underwriting and asset management.
- Deep renter base and urban amenity density support steady leasing
- Elevated ownership costs in the area can reinforce rental demand and pricing power
- 1978 vintage provides competitiveness with potential value-add via targeted upgrades
- Risks: neighborhood occupancy softness, affordability pressure, and safety metrics require proactive management