| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 84th | Best |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 555 Redondo Ave, Long Beach, CA, 90814, US |
| Region / Metro | Long Beach |
| Year of Construction | 1991 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
555 Redondo Ave, Long Beach Multifamily Investment Opportunity
Located in an Urban Core pocket of Long Beach with neighborhood occupancy around the mid‑90s, this 43‑unit asset benefits from a deep renter pool and strong location fundamentals, according to WDSuite’s CRE market data. Elevated ownership costs locally support sustained renter demand and lease retention potential.
The property sits within a high-performing Long Beach neighborhood rated A and ranked 200 out of 1,441 metro neighborhoods—placing it in the top quartile within the Los Angeles–Long Beach–Glendale area. According to CRE market data from WDSuite, neighborhood occupancy is approximately 95% with minimal five‑year volatility, supporting cash flow stability at the submarket level (neighborhood occupancy, not property‑specific).
Livability indicators are favorable for renters: grocery access and parks index in very high national percentiles, and restaurants are plentiful. By contrast, pharmacy and café density are thinner, which may temper some daily convenience appeal. Average school ratings are strong (roughly 4.0 out of 5, top national quartile), which broadens the tenant profile and can aid retention for family households.
The neighborhood skews rental: renter-occupied housing accounts for 66.6% locally, and within a 3‑mile radius renters comprise about 70% of units. For investors, this renter concentration indicates a large and durable tenant base, supporting leasing velocity and limiting exposure to ownership competition.
Income and housing context point to sustained multifamily demand. Median household incomes are above many U.S. neighborhoods, while home values sit near the 98th national percentile. In a high‑cost ownership market, many households remain reliant on multifamily options—reinforcing pricing power but requiring attentive lease management where rent-to-income pressure emerges. Neighborhood rents score in the 93rd national percentile, aligning with Class B urban coastal dynamics.
Vintage also supports competitive positioning: the asset’s 1991 construction is materially newer than the neighborhood’s mid‑century average stock (1955). This typically lowers near‑term capital burden versus older comparables, though investors should still plan for modernization of aging systems and common areas to meet current renter preferences.
Safety indicators are mixed and warrant underwriting attention. The neighborhood ranks 1,344 out of 1,441 metro neighborhoods for crime, placing it well below the metro median and below national safety percentiles. Recent year estimates indicate elevated property and violent offense rates versus many U.S. neighborhoods, with adverse short‑term trend movement. Investors should factor security measures, lighting, access controls, and resident engagement into operating plans and evaluate block‑level trends during due diligence.
Contextually, Long Beach submarkets can vary widely at the street level. Comparative framing and trend monitoring, rather than single-year readings, are prudent for risk management and insurance budgeting.
Nearby employers provide a diversified white‑collar and industrial services base that supports renter demand and commute convenience, including Molina Healthcare, Air Products & Chemicals, Airgas, International Paper’s Cypress retail packaging operations, and Time Warner Business Class.
- Molina Healthcare — managed care (2.8 miles) — HQ
- Air Products & Chemicals — industrial gases (5.3 miles)
- Airgas — industrial gases distribution (7.6 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging operations (7.7 miles)
- Time Warner Business Class — telecommunications services (8.5 miles)
555 Redondo Ave offers a coastal urban location with a large renter base and neighborhood occupancy in the mid‑90s. The 1991 vintage is newer than much of the surrounding housing stock, positioning the asset competitively against older buildings while still allowing value‑add through targeted interior updates and curb‑appeal improvements. Elevated local home values reinforce reliance on rental housing, supporting demand and pricing power when paired with disciplined lease management.
Within a 3‑mile radius, households have grown even as average household size trends smaller, suggesting a broadening tenant base and continued depth for studios and smaller one‑bedroom units. According to CRE market data from WDSuite, neighborhood rents and incomes benchmark well above national norms, indicating room for revenue management, though operators should balance affordability pressure with retention strategies. Safety metrics are weaker than metro averages, so proactive security and insurance planning should be part of the business plan.
- Large renter base and stable neighborhood occupancy support leasing durability
- 1991 construction offers competitive positioning with value‑add modernization potential
- High ownership costs locally reinforce multifamily demand and pricing power
- Nearby corporate employers underpin commute convenience and retention
- Key risks: below‑average safety metrics and affordability pressure at high rent levels