| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 E 4th St, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1984 |
| Units | 100 |
| Transaction Date | 2014-03-01 |
| Transaction Price | $15,414,654 |
| Buyer | COVENANT MANOR LP |
| Seller | SYCAMORE TERRACE |
600 E 4th St Long Beach Urban-Core Multifamily
Amenity density and a high neighborhood renter concentration point to durable leasing fundamentals in Downtown Long Beach, according to WDSuite’s CRE market data.
Located in Long Beach’s Urban Core, the property sits in a neighborhood rated A- (ranked 303 of 1,441 metro neighborhoods), signaling competitive positioning among Los Angeles–Long Beach submarkets for multifamily investors. Neighborhood occupancy is measured at the neighborhood level at 91.7%, tracking near the national midpoint and suggesting generally stable tenant retention potential rather than outsized volatility.
Daily-needs access is a clear strength. Amenity access ranks 70 of 1,441 in the metro and sits in the top quartile nationally, with strong densities of groceries, pharmacies, restaurants, and cafes that support car-light living and renter satisfaction. Average school ratings are around the national midpoint, which is typical for dense urban cores and should be considered alongside amenity convenience and employment access in underwriting.
The neighborhood skews renter-occupied, with renter concentration among the highest in the metro. For investors, that indicates a deep tenant base and consistent demand for professionally managed apartments. Median contract rents in the neighborhood have risen meaningfully over the last five years, reinforcing pricing power for well-maintained assets, while rent-to-income levels near 30% imply some affordability pressure to manage through leasing and renewals.
Within a 3-mile radius, population has edged down over the past five years, but the number of households has increased and is projected to continue rising as average household size declines. This pattern typically supports steady apartment absorption by expanding the pool of renters even when headcount growth is muted.
Vintage matters here: built in 1984, the asset is newer than much of the surrounding housing stock (neighborhood average vintage skews to the 1950s). That relative youth can enhance competitive positioning versus older buildings, though investors should still plan for modernization of systems and common areas to meet current renter expectations.
Ownership costs are elevated for the area relative to incomes (high national percentiles for home values and value-to-income), which tends to sustain reliance on rental housing. In practice, this can support leasing velocity and renewal capture for well-located units, particularly those balancing quality finishes with rent-level affordability.
Safety indicators for this neighborhood trend below metro and national averages. The neighborhood’s crime profile ranks toward the lower end among 1,441 metro neighborhoods, and national percentiles indicate it is not among the safer areas nationwide. Recent year-over-year readings show property and violent offense rates running elevated, so investors typically account for enhanced security measures, lighting, and access controls in operating budgets.
Practical underwriting takeaways include: prioritizing on-site management visibility, targeting tenant mixes aligned with quiet enjoyment, and coordinating with neighborhood groups or local programs that support environmental design and community safety. These steps can help protect occupancy stability and asset performance even where safety trends are comparatively weaker.
The immediate area draws from a diversified employment base that supports renter demand and commute convenience, including healthcare administration, industrial gases, packaging, and telecommunications.
- Molina Healthcare — healthcare administration (1.0 miles) — HQ
- Air Products & Chemicals — industrial gases (4.0 miles)
- Airgas — industrial gases (7.69 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (9.43 miles)
- Time Warner Business Class — telecommunications (9.78 miles)
This 100-unit 1984 asset benefits from an urban-core location with top-tier amenity access and one of the metro’s higher renter concentrations, supporting a large tenant base and steady leasing. Neighborhood occupancy is measured at the neighborhood level and sits around the national midpoint, while elevated ownership costs in the area tend to reinforce reliance on multifamily rentals and bolster renewal capture for well-positioned units. According to CRE market data from WDSuite, local rents have trended upward over five years, suggesting opportunities for operators who pair unit upgrades with careful affordability management.
Relative to older 1950s-vintage stock nearby, a 1984 build can compete on systems and layouts, though investors should still plan for targeted modernization to meet today’s renter expectations. Demographic patterns within a 3-mile radius—slightly lower population but increasing household counts and smaller household sizes—point to a gradually expanding renter pool, which supports occupancy stability over the hold. Key underwriting sensitivities include neighborhood safety trends and rent-to-income levels near 30%, which call for disciplined leasing and resident retention strategies.
- Urban-core location with top-quartile amenity access supports renter demand and retention
- 1984 vintage competes well versus older neighborhood stock; value-add modernization can unlock upside
- High neighborhood renter concentration and rising rents indicate depth of tenant base and pricing power
- Household growth within 3 miles despite flat population expands the renter pool and supports occupancy stability
- Risks: below-average safety and rent-to-income pressure require security investment and renewal discipline