| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 57th | Good |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 497 Saint Louis Ave, Long Beach, CA, 90814, US |
| Region / Metro | Long Beach |
| Year of Construction | 1987 |
| Units | 30 |
| Transaction Date | 2023-03-16 |
| Transaction Price | $9,400,000 |
| Buyer | 781-801 HAMILTON SQUARE LLC |
| Seller | MCCLARY JANET N |
497 Saint Louis Ave Long Beach Multifamily Investment
Built in 1987, this 30-unit asset sits in a renter-heavy Long Beach neighborhood with stable occupancy and strong amenity access, according to WDSuite’s CRE market data.
The property is positioned in an Urban Core pocket of Long Beach that ranks 168th among 1,441 metro neighborhoods (A-rated). Neighborhood occupancy is in the mid-90s, and renter-occupied housing represents a large share of units, signaling a deep tenant base and durable leasing demand for multifamily investors.
Amenity access is a clear strength: the area’s amenity rank sits 48th of 1,441 metro neighborhoods, placing it in the top quartile locally, and national amenity density percentiles for restaurants, groceries, and pharmacies are near the top of the distribution. Average school ratings sit around the national median, providing balanced family appeal without being a primary driver of rent premiums.
At the neighborhood level, elevated home values (high national percentile) and a high value-to-income ratio point to a high-cost ownership market, which tends to reinforce reliance on rental housing and support pricing power when managed carefully. The median rent level also trends high nationally, so asset management should monitor rent-to-income dynamics for retention and renewal strategy.
Within a 3-mile radius, demographics show households have grown while population edged down modestly over the past five years, indicating smaller household sizes and a broader renter pool. Looking ahead, forecasts call for additional household growth and higher incomes in the 3-mile radius, which can expand the tenant base and support occupancy stability; these forward views are based on commercial real estate analysis from WDSuite rather than speculative assumptions.
Vintage matters here: the neighborhood’s average construction year skews older (1950s), while this asset’s 1987 vintage is newer than much of the local stock. That positioning can be competitively favorable versus pre-1970 buildings, though investors should still plan for system modernization and targeted renovations as part of capital planning.
Safety indicators for the neighborhood trend weaker than national averages. Based on national percentiles, property crime sits around the lower quintiles and violent crime is also in low national percentiles, indicating comparatively elevated crime versus neighborhoods nationwide. Within the Los Angeles–Long Beach–Glendale metro, the crime rank places the area toward the higher-crime end among 1,441 neighborhoods.
Recent year-over-year trends show increases in both property and violent offense estimates. For investors, this typically means underwriting for enhanced security measures, proactive tenant relations, and attention to operating expenses tied to safety. Conditions can vary by block and over time, so compare submarket and asset-level factors alongside neighborhood trends when evaluating risk.
Proximity to several regional employers supports renter demand and commute convenience for the workforce tenant base highlighted below: Molina Healthcare, Air Products & Chemicals, Airgas, INTERNATIONAL PAPER Cypress Retail Packaging, and Time Warner Business Class.
- Molina Healthcare — healthcare services (1.98 miles) — HQ
- Air Products & Chemicals — industrial gases (4.65 miles)
- Airgas — industrial gases distribution (7.50 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging operations (8.44 miles)
- Time Warner Business Class — telecommunications services (9.00 miles)
This 30-unit, 1987-vintage property benefits from a strong renter concentration and mid-90s neighborhood occupancy, supporting cash flow durability relative to older local stock. Newer-than-neighborhood-average construction can offer a competitive edge against pre-1970 assets, while targeted modernization can capture value-add upside and help sustain leasing velocity.
Within a 3-mile radius, households have increased even as population dipped slightly, pointing to smaller household sizes and a wider renter pool. Elevated ownership costs in the neighborhood reinforce multifamily demand, but rent-to-income levels warrant careful renewal and pricing strategies. According to CRE market data from WDSuite, amenity access ranks among the metro’s strongest, adding to long-term tenant appeal.
- Renter-heavy neighborhood and stable occupancy support demand depth and leasing consistency.
- 1987 vintage is newer than much of the area’s stock, with potential to outperform older comparables.
- Strong amenity access and growing household counts within 3 miles bolster tenant appeal and retention.
- High-cost ownership market underpins multifamily reliance, supporting pricing power when managed carefully.
- Risks: safety metrics lag national averages and rent-to-income pressures require thoughtful lease management.