Multifamily Real Estate Expertise in Long Beach

Long Beach’s small-to-mid multifamily market remains stable, with average pricing around $215,000–$235,000 per unit and cap rates in the 5.75%–6.25% range, reflecting balanced buyer-seller dynamics. Pricing varies meaningfully by zip code, submarket, and building type, with Long Beach remaining highly nuanced, often changing street by street based on location quality, unit mix, parking, and overall condition.

Sales volume totaled approximately $357M, with properties trading about 5.6% below asking and averaging 5.6 months to sell. Occupancy remains strong at roughly 96%, rent growth is modest (~0.5% annually) due in part to rent control and affordability constraints, and vacancy sits near 3.6%–4.0%, signaling steady demand but limited short-term pricing momentum.

From a seller’s perspective, strong occupancy and low vacancy support reliable income and continued buyer interest, allowing well-maintained properties in good locations to command solid pricing and transact efficiently despite a more balanced, negotiation-driven market. In a nuanced, street-by-street market like Long Beach, working with an experienced multifamily broker is especially important to correctly position the asset, target the right buyer pool, and maximize pricing.

From a buyer’s perspective, pricing below asking, steady cap rates near 6%, and moderate time on market create favorable conditions to negotiate and acquire stabilized assets with dependable cash flow and limited downside risk.