Multifamily Real Estate Expertise in Long Beach

Sales volume over the past 12 months totaled approximately $401M, with 1.7K units sold across 158 properties and an average sale price of approximately $2.5M. Properties are trading approximately 5.7% below asking price, while the average time to sale is approximately 5.2 months, reflecting continued buyer activity and a market where negotiation remains an important part of the sales process. Vacancy at the time of sale averaged approximately 4.8%, with a median of 3.7%. Market asking rents have reached approximately $1,514 per unit, with asking rent growth at approximately 1.1% annually.

From a seller’s perspective, stable pricing, strong transaction volume, and continued rent growth continue to support demand for well-positioned multifamily assets. However, buyers remain disciplined, with properties selling an average of 5.7% below asking and taking approximately 5.2 months to sell. Well-maintained properties in desirable locations continue to attract the strongest interest, while accurate pricing and strategic positioning remain critical to achieving the best possible outcome. In a nuanced, street-by-street market like Long Beach, working with an experienced multifamily broker remains essential to properly position an asset, identify the most qualified buyers, and maximize value.

From a buyer’s perspective, a market-average cap rate of approximately 6.1%, sale prices averaging $230,312 per unit, and an average 5.7% discount to asking continue to provide opportunities for negotiation. With approximately $401M in sales volume and 1.7K units sold, the market remains active while still offering buyers the ability to negotiate on price and terms. Combined with approximately 95.7% occupancy, 1.1% annual asking-rent growth, and market rents of approximately $1,514 per unit, Long Beach continues to offer a relatively stable environment for multifamily investment.