| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 84th | Best |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 645 Redondo Ave, Long Beach, CA, 90814, US |
| Region / Metro | Long Beach |
| Year of Construction | 1987 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
645 Redondo Ave, Long Beach CA Multifamily Investment
Stabilized renter demand in an Urban Core pocket of Long Beach, supported by high neighborhood occupancy and a deep renter base, according to WDSuite’s CRE market data from the Los Angeles-Long Beach-Glendale metro.
This Urban Core neighborhood is rated A and ranks 200 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, positioning it as competitive within the metro for multifamily. The local renter-occupied share is 66.6% (top percentile nationally), signaling a deep tenant base that supports leasing velocity and renewal potential for small-unit assets.
Neighborhood occupancy runs at 95.2%, above the national median and consistent with steady demand. Median contract rents sit in a higher national band while the rent-to-income ratio around 0.22 points to manageable affordability pressure relative to peer coastal submarkets—useful for lease management and retention planning.
Daily-life amenities are a strength: grocery access ranks near the top of the nation and park density is also in the top percentile, while pharmacies and cafés are thinner immediately nearby. Average school ratings are strong for the metro (above 80th percentile nationally), adding to neighborhood livability signals investors often track in multifamily property research.
Within a 3-mile radius, households have increased over the past five years with smaller average household sizes, expanding the pool of renters seeking smaller formats and supporting occupancy stability. Forward-looking projections indicate additional growth in households over the next five years, which can translate to a larger tenant base even if population change is modest.
Vintage context: the typical neighborhood construction year skews older (mid-1950s). At 645 Redondo Ave, a 1987 vintage positions the property newer than much of the immediate stock—often implying relatively lower near-term systems capex versus pre-1970 assets, while still leaving room for targeted interior and common-area modernization to enhance competitiveness.
Safety signals are mixed and should be evaluated as part of standard underwriting. The neighborhood’s crime rank sits toward the higher end of the 1,441-neighborhood Los Angeles-Long Beach-Glendale metro distribution, and national comparisons place it below the U.S. average for safety. Recent year-over-year trends indicate elevated movement in both property and violent offense estimates, suggesting prudent security planning and loss-prevention measures may be warranted for onsite operations.
Investors typically mitigate these conditions through access control, lighting, and resident engagement, and by emphasizing the area’s strengths in parks, schools, and services that support long-term neighborhood stability.
Proximity to major employers underpins workforce housing demand and commute convenience. Nearby anchors include Molina Healthcare, Air Products & Chemicals, Airgas, International Paper (Cypress Retail Packaging), and Time Warner Business Class.
- Molina Healthcare — healthcare payer (2.8 miles) — HQ
- Air Products & Chemicals — industrial gases (5.3 miles)
- Airgas — industrial gases & distribution (7.5 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (7.6 miles)
- Time Warner Business Class — telecom services (8.4 miles)
645 Redondo Ave is a 59-unit 1987-vintage asset in an A-rated Urban Core neighborhood where occupancy is strong and the renter-occupied share is high, supporting depth of tenant demand. The property’s newer vintage relative to the area’s mid-1950s norm can reduce near-term systems capex versus older stock while leaving room for targeted renovations to lift rents and retention. Elevated home values in the neighborhood sustain reliance on multifamily, which can help support pricing power and stabilize occupancy through cycles, based on CRE market data from WDSuite.
Within a 3-mile radius, households have risen despite smaller average household sizes, and projections call for further growth—expanding the renter pool for smaller-format units. Strong grocery and park access, plus above-median school ratings, add to livability factors that can bolster leasing and renewals, while safety considerations should be accounted for in operations and insurance underwriting.
- High renter-occupied share and solid neighborhood occupancy support demand depth
- 1987 vintage versus older area stock offers value-add and modernization upside
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: below-average safety metrics call for enhanced security and insurance diligence