Ask any real estate agent in Long Beach, CA why you should buy a condo in this Southern California city, and they’ll give you any of the following answers – the location is unbeatable, it’s great value for the price, and so on.
In this article, we discuss what makes this area such a desirable place to live and invest in.
Location
If you’ve ever googled “how to buy a condo”, one of the first things that will come up is location – one of the biggest considerations in buying or investing in real estate.
Buyers must decide if the city or neighborhood they’re moving to has everything they need, and whether it is within reasonable distance of work, school, and amenities.
Luckily, they don’t have to make too many tradeoffs when buying Long Beach, CA condos in that regard.
You can choose from some of the most sought after neighborhoods this side of SoCal:
- Belmont Shore/Naples – These adjoining neighborhoods are best known for the picturesque canals where locals and tourists alike spend their days pedal boating. These canals are lined with palm trees and brightly painted Mediterranean and Craftsman homes that embody the laid-back California lifestyle Long Beach is known for.
- Eastside – Surrounded by California State University (CSU) Long Beach and Cambodia Town, this part of town is filled with cafés, bars, and restaurants that cater to a young and restless student population.
- East Village Arts District – Adjoining Downtown Long Beach is the Arts District, the city’s undisputed creative hub. It’s a feast for the eyes, with colorful murals and all kinds of public art adorning the streets. Here you’ll find holes-in-the-wall like hip bars, music lounges, and small eateries.
- Downtown Long Beach/Waterfront – Home to the business district, Downtown has a wide selection of condos within walking distance of word-class restaurants, cafés, and upscale shopping.
Located about 22 miles from LAX, Long Beach is an excellent choice for those who travel internationally on a frequent basis. Closer to home, travelers can fly out of Long Beach Airport (LGB) or board at Long Beach Cruise Terminal.
The city is also located in Southwest Los Angeles County, giving residents easy access to Los Angeles and its main attractions including the Hollywood Walk of Fame, Universal Studios, Griffith Observatory, Getty Center, and the Los Angeles County Museum of Art (LACMA).
The rest of LA County also harbors many family-friendly attractions like Disneyland Resort, La Brea Tar Pits, and Santa Monica.
The coves and beaches of San Diego are just a car drive away for those who feel like enjoying some more sand, sun, and surf.
Public transportation
Spanning roughly 52 square miles, this beachfront city is served by an efficient public transportation system. Your transportation options on both land and water include:
- Long Beach Transit
- Metro Link
- Passport Shuttle
- Aquabus
- Aqualink
For private transportation, you can count on Long Beach Cab Company, one of the biggest can companies on this side of the United States offering recent model cars with full air conditioning.
Don’t feel like hailing a cab? Take advantage of the California sunshine and ride your bike – Long Beach consistently ranks among the most bike-friendly cities in the United States, with Redfin naming the coastal city among the Best Bikeable U.S. Cities of 2020.
Aside from having its own Bikestation and Bike Share Program, the city has added several bike lanes to its streets over the last few years.
The local government has also provided separate lanes for pedestrians and bikers along its scenic beach path, which borders a pristine white sand beach and offers quick access to Belmont Veterans Memorial Pier and the Pacific.
Lifestyle and recreation
Known for casual elegance, Long Beach is not as busy or trend-conscious as its neighboring cities, making it perfect for those who enjoy a more laid-back environment.
The waterfront area alone offers countless opportunities for recreation – The Pike brings you an amusement park and a selection of shops and restaurants; the Aquarium of the Pacific features walk-through glass tunnels and shark and jellyfish tanks; Queen Mary is open for tours and seasonal events.
Naples Island is the go-to spot for gondola rides, while the East Village District boasts of galleries housed in beautifully preserved historic buildings and hosts Second Saturday Art Walks.
Food plays a large role in the Long Beach lifestyle – residents can have their pick of New American, Mexican, Cambodian, Vietnamese, Filipino, Mediterranean, and other cuisines in the city.
They’re also spoiled for choice when it comes to retail. Pike Outlets carries designer brands at heavily discounted prices, while the thrift stores at Fourth Street are a must-visit for those who love vintage clothing, sustainable fashion, and surf gear.
There are several commercial developments that have either just recently opened or are currently in the pipeline.
Long Beach Exchange Retail opened in 2018, offering new shopping and dining options like Nordstrom Rack, TJ Maxx, Ulta, Silverlake Ramen, Wahoo’s Fish Taco, and Whole Foods Market.
2nd & PCH, another retail hotspot, opened in 2019, with stores like Anthropologie, Lululemon, Nike, Sephora, and Urban Outfitters. It also offers a selection of casual dining restaurants, salons, yoga studios, and gyms.
Bright prospects
The housing market has low inventory and high demand, making it one of the best places to invest in a condo in SoCal.
The multi-family market, which includes condos (albeit with private owners for every unit) has been particularly strong in Long Beach.
According to Virtual Strategy Magazine, condo sales outstripped supply in mid-2019, with the Market Action Index (MAI) – which measures the rate of sales against inventory – moving steadily higher over the course of several weeks.
An index of 40 or higher implies a seller’s market, while an index of 30 and below implies a market that more favorable for buyers.
In June 10, 2019, the MAI for condo sales in Long Beach hovered at around 42, an increase over the previous month’s index of 41.
The buyer pool is expected to grow as wages increase in the future.
Prestige is another advantage of investing in Long Beach, CA condos – experts believe that SoCal will always be a desirable place to live and that it will continue to attract buyers and renters should you decide to resell the property or rent it out for passive income later on.
If you’re ready to take the plunge on Long Beach, CA real estate, let me, Michael Thue, assist you. I specialize in beachfront condos, investment properties, and multi-family homes in this SoCal city. Get in touch with me at 562.299.3583 and Michael(at)socaltophomes(dotted)com.