| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4676 Long Beach Blvd, Long Beach, CA, 90805, US |
| Region / Metro | Long Beach |
| Year of Construction | 1978 |
| Units | 58 |
| Transaction Date | 2023-10-09 |
| Transaction Price | $15,500,000 |
| Buyer | FLAG VII SCHERER PARK LP |
| Seller | SCHERER PARK APARTMENTS LP |
4676 Long Beach Blvd, Long Beach CA Multifamily Investment
Neighborhood occupancy remains high and steady, according to WDSuite’s CRE market data, supporting income stability for a 58-unit asset in this Long Beach submarket. A sizable share of renter-occupied housing in the neighborhood reinforces depth of the tenant base, though performance should be managed alongside local quality-of-life considerations.
The neighborhood rates C+ overall and is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 877 of 1,441), indicating balanced but mixed fundamentals for multifamily. Occupancy in the neighborhood is strong at the top quartile nationally and above the metro median, a constructive signal for lease-up and renewals. This area’s renter concentration (share of housing units that are renter-occupied) is also competitive among metro peers and high versus national norms, suggesting a durable tenant pool for workforce-oriented product.
Daily-needs access is a relative strength: grocery stores and pharmacies are in the top quartile nationally, while restaurants are above average, though cafes and parks are limited. Average school ratings trend below national midpoints, which may modestly influence demand from families; investors should position amenities and unit mix accordingly. In broader commercial real estate analysis terms, these amenity patterns favor convenience-driven renters but call for thoughtful resident programming on-site.
Home values in the neighborhood sit in a high-cost ownership market (well above national norms), which tends to sustain rental demand and supports pricing power and retention for well-managed assets. At the same time, neighborhood rent-to-income levels indicate manageable affordability pressure relative to many coastal submarkets, a positive for lease stability and collections.
Within a 3-mile radius, demographics show a modest population dip in recent years alongside an increase in households and smaller average household sizes—factors that typically expand the renter pool and support occupancy stability. Looking ahead to 2028, WDSuite’s data points to projected population growth and a meaningful increase in households within the same 3-mile radius, which would enlarge the local tenant base if realized.
Vintage context: the property was built in 1978, newer than the neighborhood’s older housing stock on average. This positioning can be advantageous versus pre-1960 product, while still offering clear value-add pathways through unit refreshes, systems upgrades, and curb appeal enhancements to capture premium demand.
Safety metrics trend weaker here relative to both the metro and national landscape. The neighborhood ranks toward the higher-crime end of the Los Angeles-Long Beach-Glendale metro (1362 out of 1,441 neighborhoods), and its safety percentiles sit below national midpoints. Recent year-over-year estimates indicate increases in both violent and property offenses locally.
For investors, this context underscores the importance of proactive asset management: controlled access, lighting, cameras, and resident engagement can help support retention and leasing. It also argues for underwriting assumptions that account for elevated security and operational measures.
Proximity to industrial gases, healthcare administration, defense-related offices, and beverage bottling employers supports a broad workforce renter base and commute convenience that can aid leasing and retention.
- Airgas — industrial gases (3.1 miles)
- Air Products & Chemicals — industrial gases (3.1 miles)
- Molina Healthcare — healthcare administration (5.3 miles) — HQ
- Raytheon Public Safety RTC — public safety/defense offices (7.3 miles)
- Coca-Cola Downey — beverage bottling (7.3 miles)
4676 Long Beach Blvd is a 58-unit 1978-vintage asset positioned in a neighborhood with above-median metro occupancy and top-quartile national occupancy performance, supporting income durability. High ownership costs in the surrounding area reinforce reliance on multifamily housing, while neighborhood rent-to-income levels suggest manageable affordability pressure that can aid retention and reduce turnover risk. Based on multifamily property research from WDSuite, household growth within a 3-mile radius is expected to expand the renter base by 2028, offering a favorable backdrop for steady demand.
The 1978 construction provides a relative edge over older local stock and creates clear value-add pathways through interior upgrades and building systems modernization. Investors should also weigh local safety and school quality headwinds when setting operating plans and resident services.
- Strong neighborhood occupancy supports stable leasing and renewals
- High ownership costs locally sustain rental demand and pricing power
- 1978 vintage offers value-add potential versus older area stock
- Risk: Weaker safety metrics and below-average school ratings warrant enhanced operations and underwriting discipline