| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 55th | Good |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 427 Cedar Ave, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
427 Cedar Ave Long Beach Multifamily Investment
This 20-unit property benefits from Long Beach's strong rental market dynamics, with neighborhood-level occupancy at 93.1% and renter-occupied units comprising 73.4% of local housing stock according to WDSuite's CRE market data.
Located in Long Beach's urban core, this neighborhood ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for amenities, with exceptional access to retail and dining infrastructure. The area features 65.25 restaurants per square mile and 13.27 grocery stores per square mile, both ranking in the 99th percentile nationally, supporting strong tenant retention through walkable convenience.
Demographics within a 3-mile radius show a stable renter base, with 75.7% of housing units occupied by renters and household growth projected at 35.1% through 2028. The median household income of $69,070 supports current rent levels, while forecasted income growth to $108,866 by 2028 indicates strengthening tenant purchasing power and potential for measured rent growth.
Built in 1973, this property aligns with the neighborhood's average construction year of 1963, positioning it competitively within the local building stock while offering potential value-add opportunities through targeted renovations. Neighborhood-level occupancy trends remain stable at 93.1%, though slightly below metro benchmarks, suggesting careful attention to unit positioning and lease renewal strategies will be important for maintaining competitive occupancy rates.
The area's median home value of $501,799 creates a substantial ownership cost barrier that can help maintain rental demand, particularly as forecasted rent growth to $2,133 median by 2028 remains more accessible than homeownership for many households in the income spectrum.
Safety metrics require careful consideration in this urban core location. The neighborhood ranks 1,366th out of 1,441 metro neighborhoods for overall crime, placing it in the 16th percentile nationally. Property crime rates are elevated at an estimated 2,608 incidents per 100,000 residents, with a concerning 22% increase over the past year.
Violent crime rates also present challenges, with an estimated 1,745 incidents per 100,000 residents and a 53% year-over-year increase. These trends suggest investors should factor security considerations into capital planning and tenant screening processes, while monitoring local safety initiatives that could influence future crime patterns and tenant appeal.
The local employment base is anchored by healthcare and industrial operations that provide stable workforce housing demand for area renters.
- Molina Healthcare — healthcare services (0.5 miles) — HQ
- Air Products & Chemicals — industrial chemicals (3.5 miles)
- Airgas — industrial gas distribution (7.7 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging manufacturing (10.1 miles)
This Long Beach property operates in a fundamentally rental-oriented market, with 73.4% of neighborhood housing stock occupied by renters—ranking in the 98th percentile nationally. The urban core location provides exceptional amenity density that supports tenant retention, while demographic projections within a 3-mile radius show household growth of 35.1% through 2028, expanding the potential renter pool.
According to multifamily property research, the 1973 construction year positions the asset for strategic capital improvements that could capture projected rent growth from the current $1,512 median to $2,133 by 2028. However, investors should account for elevated crime trends and below-average school ratings when evaluating tenant demographics and renewal strategies.
- Strong rental market fundamentals with 73.4% renter occupancy
- Exceptional amenity access supporting tenant retention
- Projected 35.1% household growth expanding renter base
- Value-add potential through strategic renovations
- Risk consideration: Elevated crime trends require security planning