| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 634 Lime Ave, Long Beach, CA, 90802, US |
| Region / Metro | Long Beach |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2002-10-02 |
| Transaction Price | $742,000 |
| Buyer | FRINGS JAMES A |
| Seller | STAMBOLIAN ARIS VOSKAN |
634 Lime Ave, Long Beach 20-Unit Value-Add
Renter demand is reinforced by dense amenities and an Urban Core setting, according to WDSuite’s CRE market data, while neighborhood occupancy trends remain around the national middle. The 1973 vintage suggests potential renovation upside to enhance competitiveness.
Neighborhood fundamentals
Situated in Long Beach’s Urban Core, the area scores A- overall and ranks 303 out of 1,441 metro neighborhoods, signaling competitive positioning among Los Angeles-Long Beach submarkets for everyday convenience and renter appeal. Amenity density is a standout, with restaurants, cafes, groceries, pharmacies, and parks all testing well above national averages, supporting daily needs and walkability that can aid leasing and retention.
Neighborhood occupancy is in the national middle, while the renter-occupied share is notably high (top national tier), indicating a deep tenant base for multifamily. Median contract rents are above many U.S. neighborhoods and have risen over the past five years, consistent with broad metro trends; this helps frame achievable rent positioning while keeping an eye on affordability and lease management.
Within a 3-mile radius, recent years show a modest population decline alongside a small increase in households and smaller average household size—dynamics that can expand the pool of renter households even as headcount softens. Forecasts point to further household growth by 2028, which supports occupancy stability for well-managed properties.
Ownership costs in the neighborhood rate high relative to incomes (value-to-income ranks near the top nationally), and home values sit well above national norms. In practice, this high-cost ownership market tends to sustain reliance on rental housing and can support pricing power for units that are well-located and maintained.
Safety context
Relative to other parts of the Los Angeles-Long Beach metro, this neighborhood’s safety ranking is toward the lower end (crime rank near the bottom among 1,441 metro neighborhoods), and national comparisons place it below the median for safety. Recent year-over-year indicators for both property and violent offenses have trended higher locally.
For investors, these conditions suggest underwriting for enhanced security, lighting, access controls, and active property management. Comparable Urban Core locations often offset some of this risk with amenity access and transit convenience, but operations planning remains important for leasing and retention.
Nearby employers supporting renter demand
Proximity to regional employers provides commute convenience for a diverse workforce, which can support occupancy and lease retention. Notable nearby organizations include Molina Healthcare, Air Products & Chemicals, Airgas, International Paper (Cypress Retail Packaging), and Time Warner Business Class.
- Molina Healthcare — healthcare services (1.1 miles) — HQ
- Air Products & Chemicals — industrial gases (3.9 miles)
- Airgas — industrial gases (7.5 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (9.3 miles)
- Time Warner Business Class — telecommunications (9.6 miles)
Why invest
634 Lime Ave is a 20-unit 1973 property in an amenity-dense Urban Core pocket of Long Beach. Neighborhood data indicate renter concentration in the top national tier and occupancy around the national middle—conditions that can support stable leasing with thoughtful operations. Elevated home values relative to incomes reinforce reliance on rentals, while nearby employment nodes add daily demand drivers. Based on commercial real estate analysis from WDSuite, the surrounding neighborhood’s income, rent, and amenity trends align with steady multifamily demand, provided affordability and security are actively managed.
The 1973 vintage points to value-add potential through targeted renovations and system upgrades to sharpen competitive positioning against both newer assets and renovated peers. Given safety metrics that trail stronger parts of the metro, prudent security investments and resident experience initiatives can help sustain occupancy and reduce turnover.
- Renter-occupied share in the top national tier supports a deep tenant base and leasing durability.
- Amenity-rich Urban Core location (strong food, grocery, and daily services) aids retention and rent positioning.
- 1973 vintage offers clear value-add and modernization opportunities to enhance NOI and competitive standing.
- Elevated ownership costs locally tend to sustain multifamily demand and pricing power for well-managed units.
- Risks: below-median safety metrics and affordability pressure require security planning and careful lease management.