| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 10th | Poor |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5700 Ackerfield Ave, Long Beach, CA, 90805, US |
| Region / Metro | Long Beach |
| Year of Construction | 1973 |
| Units | 93 |
| Transaction Date | 2022-02-09 |
| Transaction Price | $23,400,000 |
| Buyer | ACKERFIELD 2 LLC |
| Seller | KASTIN FAMILY TRUST |
5700 Ackerfield Ave Long Beach Multifamily Investment
Neighborhood occupancy trends indicate steady renter demand, with a high share of renter-occupied units supporting leasing consistency, according to WDSuite s CRE market data. Metrics reflect the surrounding neighborhood rather than the property itself and point to durable tenant depth with some affordability pressure.
Situated in Long Beach s Urban Core, the area around 5700 Ackerfield Ave shows above metro median occupancy levels (neighborhood occupancy is measured for the area, not the asset), which can support income stability for well-managed properties. A high renter-occupied share of housing units indicates a deep tenant pool and ongoing demand for multifamily product.
Amenities are mixed: restaurants are dense by national comparison (top quartile nationally), while everyday conveniences like groceries, parks, and pharmacies are less concentrated within the immediate neighborhood. Investors should underwrite with the understanding that residents may rely on nearby corridors and adjacent districts for retail and services, which can influence retention strategies and transportation preferences.
The property s 1973 vintage is slightly newer than the neighborhood s average construction year, suggesting relative competitiveness versus older stock while still warranting ongoing capital planning for aging systems or modernization to meet current renter expectations. Neighborhood NOI per unit trends sit above national medians, signaling potential to capture performance with disciplined operations.
Within a 3-mile radius, population has inched up over recent years and household counts have grown, pointing to a gradually expanding renter base. Forward-looking estimates show households continuing to rise alongside smaller average household sizes, which generally supports multifamily demand and occupancy resilience. Rising incomes in the surrounding area reinforce the potential to sustain rent levels, though operators should calibrate pricing to local affordability and product positioning.
Homeownership remains a high-cost proposition in the Los Angeles-Long Beach-Glendale metro, which tends to sustain reliance on rental housing. This dynamic can bolster lease retention for competitively priced units while emphasizing the importance of value-oriented amenities and efficient unit layouts to support pricing power.
Safety indicators for the neighborhood are below metro averages among 1,441 Los Angeles-Long Beach-Glendale neighborhoods and track in the lower national percentiles. Recent year trends point to elevated property and violent offense rates compared with many U.S. neighborhoods, so investors should budget for security-minded operations and design (lighting, access control, and community standards) to support tenant retention.
As with any Urban Core location, outcomes vary by block and asset management. Monitoring trend direction and coordinating with local resources can help maintain on-site safety standards without over-relying on any single year of data.
Nearby corporate employers provide a diversified employment base that supports renter demand and commute convenience, led by industrial gases, manufacturing, defense-related offices, and healthcare administration.
- Airgas industrial gases (1.6 miles)
- Air Products & Chemicals industrial gases (5.1 miles)
- Raytheon Public Safety RTC defense & aerospace offices (5.4 miles)
- Molina Healthcare healthcare administration (6.8 miles) HQ
- International Paper packaging & paper products (8.5 miles)
5700 Ackerfield Ave is a mid-scale Long Beach multifamily asset (93 units) in a neighborhood where occupancy trends are above the metro median and the renter-occupied share of housing units is high signals that generally support demand depth and leasing stability. According to CRE market data from WDSuite, neighborhood rents have trended upward over the past five years, and NOI per unit performance sits above national medians, suggesting potential for operational performance with disciplined management.
Built in 1973, the asset is slightly newer than the area s average vintage, offering relative competitiveness versus older stock while still calling for targeted capital planning to modernize systems and finishes. Investor underwrites should balance supportive demand drivers with practical considerations: affordability pressure in the neighborhood, mixed access to daily conveniences, and safety metrics below metro norms point to the importance of effective leasing, resident services, and on-site security practices.
- Above-metro occupancy and deep renter base support income stability
- 1973 vintage newer than area average; scope for targeted value-add
- Neighborhood NOI per unit trends above national medians
- Mixed amenity coverage; strong dining options but fewer daily services nearby
- Risks: affordability pressure and below-metro safety require proactive management