Sporting a 28-mile-long coast, it's easy to see how Long Beach, CA, got its name. Long Beach is known for a number of tourist attractions like the Aquarium of the Pacific and the RMS Queen Mary. While being one of the largest cities in Southern California, Long Beach’s residents have always stated it feels like a small town.
These features
perfectly set Long Beach apart from other beach cities and make it a fantastic opportunity for people looking to invest in rental properties.
Today, we’ll review five elements that make Long Beach, CA, an ideal city for property rentals.
Like many metropolitan cities, Long Beach, CA, has a large and varied population. Cities with a heavy or growing population are great for investors. This allows you to cast a wider net when searching for prospective tenants. Typically, cities with diverse populations bolster economic growth, appealing to investors.
Whether your rental property is a small single-family home or an exotic luxury apartment, Long Beach’s diverse population makes filling vacancies straightforward. Provided you have resources and know how to market your rental property.
Investors see the opportunity for steady growth in their investment in Long Beach. Based on trends, many properties will likely increase in value over time in Long Beach. The population of Long Beach has steadily grown, too, with the population growing by 1.7% since 2010. This growth is oftentimes accompanied by the demand for housing, which can lead to increases in the prices of rentals. While you still need to navigate prices based on location and property size to take advantage of this growth, Long Beach is a safe investment for the time being.
Long Beach has a diverse population and a diversity of neighborhoods to match. Based on what you are comfortable investing in, Long Beach has a property to offer. This is great for veteran or first-time investors. For those looking to start building their portfolio, Long Beach provides many entry-level properties such as duplexes, single-family homes, or single-family homes with an accessory dwelling unit (ADU) built on the property in middle-class neighborhoods. Long Beach offers properties in exclusive neighborhoods such as Belmont Shore and Rancho Estates for investors looking to expand their portfolio. These require a much higher starting investment but tend to have a higher return on investment (ROI).
Long Beach’s location is another one of its assets. Due to being located between Los Angeles(LA) and Orange County(OC), Long Beach is an excellent location with a thriving market and a “small town” feel. Many people feel more comfortable commuting from Long Beach to LA or OC than living in those areas. This benefits investors as there is demand for housing nearly year-round. This setting allows Long Beach to be considered an affordable beach city compared to Santa Monica or Newport Beach. This gives investors all the benefits of buying rental properties in a beach city while lowering costs.
Long Beach offers beautiful beaches and marinas. Along with those is an active dining, shopping, and tourist scene that mixes urban sophistication with fun beach city activities. This not only means ample opportunities for long-term rental properties, but Long Beach is also a great market for short-term rentals. Many tourists nowadays prefer to stay in homes listed on apps like Airbnb over hotels.
Long Beach offers many opportunities for financial gain if you invest. If you are interested in investing in rental properties in Long Beach or are looking for ways to
collect rent online from existing rentals, we invite you to call us today at (562) 888-0247 or fill out our
Owner Application online.
