| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 55th | Good |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 630 Magnolia Ave, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1987 |
| Units | 63 |
| Transaction Date | 1993-10-22 |
| Transaction Price | $2,600,000 |
| Buyer | COAST FEDERAL BANK FSB |
| Seller | COAST FED SERVICES |
630 Magnolia Ave Long Beach Multifamily Investment
This 63-unit property built in 1987 operates in a renter-concentrated neighborhood with 93.1% occupancy rates and strong amenity access, according to CRE market data from WDSuite.
This urban core neighborhood ranks in the top quartile nationally for amenities, with exceptional access to dining, grocery, and recreation that supports tenant retention. The area maintains 93.1% occupancy across the rental market, with 73.4% of housing units occupied by renters - positioning this property within a stable rental demand environment.
Built in 1987, this property aligns with the neighborhood's average construction year of 1963, suggesting potential value-add opportunities through strategic renovations and unit improvements. The surrounding area demonstrates solid fundamentals with median contract rents of $1,542 and home values at $501,799, creating affordability dynamics that reinforce rental demand over ownership transitions.
Demographics within a 3-mile radius show 192,659 residents with 75.1% of housing units renter-occupied, indicating a deep tenant pool. Projected household growth of 35.1% through 2028 and median income increases to $107,949 suggest expanding renter demand and potential for measured rent growth, supporting long-term occupancy stability.
The neighborhood's amenity density ranks exceptionally well nationally, with 13.27 grocery stores per square mile (100th percentile) and 65.25 restaurants per square mile (99th percentile), enhancing tenant appeal and supporting renewal rates in this competitive Long Beach submarket.
Crime metrics indicate challenges that require investor attention, with the neighborhood ranking in the lower portion among 1,441 metro neighborhoods for overall safety measures. Property crime rates and violent crime trends suggest the importance of robust security measures and tenant screening protocols.
Recent crime data shows increases in both property and violent offenses, which may impact tenant retention and require proactive management strategies. Investors should factor security investments and insurance considerations into their underwriting, while monitoring local law enforcement initiatives and community safety programs that could improve conditions over time.
The property benefits from proximity to established corporate employers, with healthcare and industrial offices providing workforce housing demand within commuting distance.
- Molina Healthcare — healthcare services (0.6 miles) — HQ
- Air Products & Chemicals — industrial chemicals (3.3 miles)
- Airgas — industrial gases (7.6 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging manufacturing (10.1 miles)
- Time Warner Business Class — telecommunications (10.2 miles)
This 63-unit property operates in a fundamentally strong rental market with 93.1% neighborhood occupancy and 73.4% renter tenure, indicating stable demand dynamics. The 1987 construction year presents value-add potential through strategic improvements, while the urban core location provides exceptional amenity access that supports tenant retention and competitive positioning.
Demographic projections within a 3-mile radius show household growth of 35.1% through 2028 and rising median incomes, expanding the renter pool while home values at $501,799 maintain rental affordability advantages. However, multifamily property research indicates crime trends require proactive management and security investments to protect tenant satisfaction and renewal rates.
- Strong rental market fundamentals with 93.1% neighborhood occupancy
- Value-add potential through strategic renovations of 1987-vintage units
- Exceptional amenity access supporting tenant retention
- Projected household growth of 35.1% expanding renter demand
- Crime trends require proactive security and management strategies