| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 55th | Good |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 440 W 5th St, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1987 |
| Units | 21 |
| Transaction Date | 2015-03-11 |
| Transaction Price | $3,560,000 |
| Buyer | MORTEZA HAJIAN & SONIA KAZEMI LIVING TRUST |
| Seller | C & F ELM HEIGHTS LLC |
440 W 5th St Long Beach Multifamily Investment
Positioned in Long Beach’s urban core, the neighborhood shows low-90s occupancy and a high renter-occupied share, supporting steady tenant demand, according to WDSuite’s CRE market data. With dense amenities and strong connectivity, the submarket profile favors leasing resilience for well-run assets.
Located in the Los Angeles-Long Beach-Glendale metro’s Urban Core, the neighborhood ranks 185 out of 1,441 metro neighborhoods (above the metro median) with an overall A rating, based on CRE market data from WDSuite. Amenity access is a notable strength: the area sits in the 96th percentile nationally for overall amenities and ranks 43 of 1,441 in the metro, with restaurant and grocery density among the top decile nationwide. These fundamentals support walkability and everyday convenience that tend to aid leasing and retention.
The property’s 1987 vintage is newer than the neighborhood’s average construction year of 1963. For investors, that typically means more competitive positioning versus older stock and potentially lower near-term capital needs, while still planning for modernization of building systems common to late-1980s construction.
Renter demand is deep: the neighborhood’s renter-occupied share is high, which signals a broad tenant base and supports occupancy stability. Neighborhood occupancy is around 93%, and neighborhood-level NOI per unit trends rank in the top decile nationally, indicating that revenue performance in this area has been competitive relative to other U.S. neighborhoods. Average school ratings are below national medians, which may modestly temper appeal for some family renters, but the dense amenity base and employment access often offset this for urban-core renter segments.
Within a 3-mile radius, recent years show a small decline in population alongside a rise in total households, with household sizes trending smaller. Looking ahead, households are projected to increase, which points to a larger renter pool and supports occupancy stability, even if population growth is muted. Elevated home values and a high value-to-income ratio indicate a high-cost ownership market, which sustains reliance on rental housing and can bolster lease retention and pricing power for well-positioned multifamily assets.
Safety indicators should be underwritten thoughtfully. The neighborhood’s crime rank sits toward the higher-crime end of the spectrum (ranked near the bottom among 1,441 metro neighborhoods) and falls in low national percentiles for safety, indicating conditions that are less favorable than many U.S. neighborhoods. Recent year-over-year changes show increases in both violent and property offense estimates. Investors commonly address this with targeted security measures, lighting, and tenant-experience improvements to support retention.
Nearby employers provide a diversified employment base that can support renter demand and retention, including health insurance, industrial gases, packaging, and telecom services concentrated within a short commute.
- Molina Healthcare — health insurance (0.45 miles) — HQ
- Air Products & Chemicals — industrial gases (3.44 miles)
- Airgas — industrial gases distribution (7.74 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (10.17 miles)
- Time Warner Business Class — telecom services (10.30 miles)
This 21-unit asset at 440 W 5th St benefits from an urban-core location with dense amenities and a high concentration of renter-occupied housing. Neighborhood occupancy sits in the low-90s, and ownership costs are elevated relative to incomes, which reinforces renter reliance on multifamily housing and supports lease retention for well-managed properties. According to CRE market data from WDSuite, the area’s amenity depth and competitive neighborhood-level NOI per unit performance provide a constructive backdrop for income stability.
Built in 1987, the property is newer than the surrounding stock, offering a relative competitive edge versus older buildings while still warranting prudent capital planning for system modernization typical of late-1980s construction. Within a 3-mile radius, households have been increasing and are projected to continue rising alongside smaller average household sizes—factors that expand the renter pool and favor demand for professionally managed apartments.
- Urban-core location with top-tier amenity access that supports leasing and retention
- Newer 1987 vintage versus neighborhood average, offering competitive positioning with value-add modernization potential
- High renter concentration and low-90s neighborhood occupancy underpin demand depth
- High-cost ownership market reinforces renter reliance, aiding pricing power and retention
- Risks: below-average safety and school ratings; active management, security, and tenant-experience programs are important