| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 27th | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 650 E Esther St, Long Beach, CA, 90813, US |
| Region / Metro | Long Beach |
| Year of Construction | 1976 |
| Units | 78 |
| Transaction Date | 2000-05-01 |
| Transaction Price | $3,300,000 |
| Buyer | PACIFIC ATLANTIC GROUP LLC |
| Seller | PACIFIC COAST PLAZA |
650 E Esther St Long Beach Multifamily Investment
Neighborhood occupancy remains elevated and renter demand is deep in this urban Long Beach pocket, according to WDSuite s CRE market data, supporting stable leasing for a 78-unit asset. A high share of renter-occupied units in the area points to a sizable tenant base and consistent absorption potential.
The property sits in an Urban Core neighborhood of Long Beach rated B- and ranked 694 of 1,441 within the Los Angeles-Long Beach-Glendale metro placing it above the metro median. Local fundamentals favor renters: the neighborhood is 81.2% renter-occupied, which signals depth in the tenant pool and supports ongoing leasing velocity for multifamily investors.
Amenity access is a relative strength. Neighborhood measures for restaurants, groceries, pharmacies, and cafes track around the 96th percentile nationally, reinforcing convenience and day-to-day livability that can aid retention. School ratings average near the national midpoint, which is typical for dense urban locations and suggests competitive positioning against comparable submarkets across the metro.
Occupancy at the neighborhood level is 94.9%, with modest five-year improvement, indicating steady absorption and limited structural vacancy. Median contract rents have risen over the past five years, and elevated home values in the neighborhood compared with many U.S. areas tend to sustain reliance on multifamily housing, which can support pricing power when paired with disciplined lease management.
Within a 3-mile radius, demographics show a slight population contraction historically alongside an increase in total households and smaller average household sizes renter-relevant shifts that expand the addressable tenant base. Looking forward, WDSuite data indicates a projected increase in households and incomes in the same 3-mile area, which can support rent growth and occupancy stability, while investors should monitor rent-to-income dynamics (the neighborhood s rent-to-income ratio is 0.31) to manage retention and renewal strategies.
Vintage positioning matters: the average neighborhood construction year is 1959, while this asset s 1976 vintage is newer than much of the local stock, suggesting relative competitiveness versus older buildings. That said, systems from this era may still warrant targeted modernization to meet current renter expectations and reduce long-run capital risk.
Safety trends should be underwritten carefully. The neighborhood ranks 1,321 out of 1,441 metro neighborhoods on crime, indicating relatively higher reported crime compared with much of the Los Angeles-Long Beach-Glendale area. Nationally, WDSuite s measures place the area below typical U.S. safety levels (violent crime sits in a low national percentile), which calls for practical mitigation such as on-site security practices and resident engagement.
Recent data also shows an uptick in both property and violent offense rates year over year. For investors, this translates into a need for thoughtful operating plans lighting, access control, and community standards to support resident satisfaction and protect NOI. Comparative underwriting against nearby neighborhoods can help calibrate achievable rents and concessions in light of these dynamics.
The area benefits from proximity to healthcare, industrial, and communications employers that help anchor local wage bases and support renter demand through commute convenience. The list below highlights nearby organizations that shape the employment ecosystem referenced in leasing narratives.
- Molina Healthcare healthcare services (1.8 miles) HQ
- Air Products & Chemicals industrial gases (3.3 miles)
- Airgas industrial gases & distribution (6.5 miles)
- Time Warner Business Class business communications services (9.0 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging packaging operations (9.3 miles)
This 78-unit, 1976-vintage community is positioned in an Urban Core Long Beach neighborhood with above-median metro ranking and strong amenity access. Neighborhood occupancy of 94.9% and an 81.2% renter-occupied share indicate a broad tenant base and a supportive backdrop for stable leasing. Elevated ownership costs in the surrounding area, combined with rising neighborhood rents, reinforce sustained reliance on rental housing and potential pricing power with prudent lease management.
According to CRE market data from WDSuite, the immediate neighborhood trends show steady occupancy and improving incomes within a 3-mile radius over time, with forward-looking projections for more households and higher earnings that can underpin rent growth and renewal performance. The 1976 vintage is newer than the neighborhood average stock, offering a competitive edge versus older properties while leaving room for targeted upgrades to improve unit finishes, energy efficiency, and operating reliability.
- Deep renter base and above-median neighborhood ranking within the Los Angeles-Long Beach-Glendale metro
- Strong amenity access supports retention and leasing velocity
- Steady neighborhood occupancy with projected household and income growth in the 3-mile trade area
- 1976 vintage offers value-add potential against older local stock
- Risks: below-average safety metrics and rent-to-income pressure require active management and calibrated underwriting