| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 25th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6651 Orizaba Ave, Long Beach, CA, 90805, US |
| Region / Metro | Long Beach |
| Year of Construction | 1989 |
| Units | 34 |
| Transaction Date | 1993-11-11 |
| Transaction Price | $1,200,000 |
| Buyer | GOOD JAMES A |
| Seller | FIDELITY FEDERAL BANK FSB |
6651 Orizaba Ave Long Beach Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data. Metrics cited refer to the surrounding neighborhood, not the property, and indicate durable performance drivers for multifamily investors.
The property sits in Long Beach’s Urban Core with a neighborhood rating of B and occupancy that is top quartile nationally, supporting income stability for multifamily assets nearby. Importantly, this refers to neighborhood performance, not the property itself. A high share of renter-occupied housing units (76.1% at the neighborhood level) signals a deep tenant base that can underpin leasing velocity and renewal potential.
Amenity access is a relative strength: neighborhood counts for grocery, restaurants, cafes, and pharmacies rank in the mid-90s percentiles nationally, which helps support day-to-day convenience and reduces friction for resident retention. Average school ratings trend below national norms, which can matter for certain resident segments, but the dense retail and service mix offsets some of that for workforce households prioritizing commute and convenience.
Vintage matters for competitive positioning. The average neighborhood construction year is 1967, while this building was constructed in 1989—newer than much of the nearby stock—suggesting less near-term systems risk relative to older comparables, while still leaving room for targeted modernization to drive rent positioning and value-add.
Within a 3-mile radius, demographics indicate a largely stable population with an increase in households and a trend toward smaller household sizes, expanding the renter pool over time. Rising household incomes and rent levels in the area support achievable rent growth, while elevated ownership costs (home values are high relative to incomes) reinforce reliance on multifamily housing. At the same time, a higher rent-to-income ratio in the neighborhood suggests affordability pressure that owners should manage through prudent lease and renewal strategies.
Safety conditions in the surrounding neighborhood track below national averages, with crime ranking toward the lower end among 1,441 Los Angeles–Long Beach–Glendale metro neighborhoods. National percentiles indicate the area is less safe than many neighborhoods nationwide, so investors often underwrite to enhanced lighting, access control, and community standards to support retention and operations.
Recent year-over-year estimates point to increases in both property and violent offenses at the neighborhood level. While these are neighborhood trends rather than property-specific, acknowledging them in planning can inform security budgeting, vendor selection, and resident engagement policies.
Proximity to logistics, healthcare, and telecom employers supports workforce renter demand and commute convenience for residents, which can aid leasing and renewals. Notable nearby employers include Airgas, Raytheon Public Safety RTC, Coca-Cola Downey, Time Warner Business Class, and Molina Healthcare.
- Airgas — industrial gases (0.7 miles)
- Raytheon Public Safety RTC — defense & public safety (4.3 miles)
- Coca-Cola Downey — beverage distribution (4.4 miles)
- Time Warner Business Class — telecom services (5.6 miles)
- Molina Healthcare — healthcare services (7.9 miles) — HQ
This 34-unit, 1989-vintage asset benefits from neighborhood-level occupancy that is top quartile nationally and a high concentration of renter-occupied housing, indicating a deep tenant base and potential for stable collections. The building’s newer vintage versus much of the local stock provides competitive positioning with the option to create value through focused interior and systems updates rather than full rehabilitations. According to CRE market data from WDSuite, elevated ownership costs in the neighborhood context help sustain multifamily demand, while dense retail and service amenities support retention.
Investor focus should balance these strengths with measured risk management. Neighborhood safety metrics trend below national averages and rent-to-income ratios point to affordability pressure, warranting thoughtful lease management, security planning, and prudent expense reserves.
- Neighborhood occupancy is strong (top quartile nationally), supporting income stability for comparable multifamily assets.
- 1989 construction offers a competitive edge versus older local stock, with targeted value-add potential.
- Dense grocery, restaurant, and service presence supports leasing velocity and renewal outcomes.
- Elevated ownership costs in the area reinforce rental demand and tenant reliance on multifamily housing.
- Risks: below-average neighborhood safety and higher rent-to-income ratios require active management of security, renewals, and expenses.