| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 27th | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 630 E Pacific Coast Hwy, Long Beach, CA, 90806, US |
| Region / Metro | Long Beach |
| Year of Construction | 1979 |
| Units | 50 |
| Transaction Date | 2020-11-20 |
| Transaction Price | $18,100,000 |
| Buyer | DHI PACIFIC COAST VILLA ASSOCIATES LP |
| Seller | PRESTON IV LP |
630 E Pacific Coast Hwy Long Beach Multifamily Investment
This 50-unit property built in 1979 sits in a neighborhood with 94.9% occupancy and 81.2% renter-occupied units, indicating strong rental demand according to CRE market data from WDSuite.
This Long Beach neighborhood demonstrates strong rental fundamentals with occupancy at 94.9% and renter-occupied units comprising 81.2% of the housing stock - ranking in the top quartile nationally among 1,441 metro neighborhoods. The high renter concentration supports consistent tenant demand and occupancy stability for multifamily properties.
Built in 1979, this property aligns with the neighborhood's average construction year of 1959, suggesting potential value-add opportunities through strategic renovations and modernization. The older vintage may require capital expenditure planning but offers upside potential for investors willing to enhance unit features and common areas.
Demographic data within a 3-mile radius shows a mature rental market with 244,720 residents and average household size of 2.6. Current median household income of $73,946 is projected to increase 45% to $107,218 by 2028, while the renter pool is expected to expand with household growth of 34%. This income growth trajectory supports rent escalation potential and tenant retention.
The neighborhood offers strong amenity density with 5.33 grocery stores per square mile and 18.65 restaurants per square mile, both ranking in the 96th percentile nationally. However, the area lacks parks entirely, which may limit outdoor recreation appeal. Median contract rent of $1,366 with 48.8% growth over five years indicates an active rental market, though investors should monitor affordability pressures given the current rent-to-income ratio of 0.31.
Safety metrics show mixed performance with property crime rates at 1,353 incidents per 100,000 residents and violent crime at 715 incidents per 100,000 residents. The neighborhood ranks in the lower quartile among 1,441 metro neighborhoods for both crime categories, with property crime increasing 24.7% year-over-year.
While crime rates present challenges, investors should consider these figures within the broader urban context of Los Angeles County. The neighborhood's strong occupancy rates suggest tenants continue to find value in the location despite safety concerns, though property management may benefit from enhanced security measures and tenant screening protocols.
The property benefits from proximity to major corporate employers, with healthcare leader Molina Healthcare headquartered less than 2 miles away supporting workforce housing demand.
- Molina Healthcare — healthcare services (1.8 miles) — HQ
- Air Products & Chemicals — industrial chemicals (3.2 miles)
- Airgas — industrial gases (6.5 miles)
- Time Warner Business Class — telecommunications (9.0 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging manufacturing (9.2 miles)
This 50-unit Long Beach property presents a compelling value-add opportunity in a fundamentally strong rental market. With neighborhood occupancy at 94.9% and 81.2% renter-occupied housing units, the investment benefits from established rental demand. The 1979 construction year offers renovation upside potential, while projected household income growth of 45% by 2028 supports future rent escalation within a 3-mile radius demographic base of 244,720 residents.
Commercial real estate analysis indicates the neighborhood's amenity-rich environment and proximity to major employers like Molina Healthcare create tenant retention advantages. However, investors should factor crime trends and affordability pressures into their underwriting, as the current rent-to-income ratio of 0.31 may limit aggressive rent growth strategies.
- Strong occupancy fundamentals with 94.9% neighborhood rate and top-quartile renter concentration
- Value-add potential through strategic renovations of 1979-vintage property
- Projected 45% household income growth supports future rent escalation
- Proximity to major employers including Molina Healthcare headquarters
- Risk consideration: Crime trends and affordability pressures require active management