While touring a condo building in downtown Long Beach, an investor's first question to the management office was not about the sale price or rental rates, but rather when the building was constructed. It was a six-story building completed in the late 1970s, and from that moment, the list of things to check changed. In California, two inspection laws, SB 721 and SB 326, apply to multi-family buildings, including condos, with those managed by an HOA falling under SB 326. These buildings must undergo inspections by a structural engineer or architect every nine years, and the results must be reflected in the association's reserve study.

The first inspection deadline for condos has already passed on January 1, 2026. The older the building, the more important it becomes to know whether this inspection has been completed and what the results were, as this information is as crucial as the sale price. If the inspection concludes that repairs are needed, the costs will ultimately fall back on the owners in the form of special assessments. According to SB 410, which took effect in January 2026, recent inspection reports must now be included in the public documents provided during resale, so it may be wise to request this document when viewing listings.

Looking at prices, the median price for Long Beach condos is estimated to be around $500,000 as of the first quarter of 2026. During the same period, the median price for all homes in Long Beach is around $700,000, creating a price gap of over $200,000 between condos and single-family homes. This significant gap indicates that condos are a more accessible product, but conversely, the management condition of the building and the level of reserve fund accumulation can greatly affect future resale value and loan eligibility.

HOA fees are another important factor to consider. The median HOA fee for condos in Los Angeles County, which includes Long Beach, is reported to be around $413 per month. This often comes with increases in insurance premiums that have occurred in recent years. Rising reinsurance costs and litigation risks have led to increases in condo master insurance premiums nationwide, and in California, the wildfire risk has compounded this issue, with some local HOAs seeing renewal premiums jump several times compared to the previous year. Such increases may be directly reflected in management fees, or if management fees alone are insufficient, they may lead to special assessments.

Therefore, before signing a contract, it is advisable to review the financial statements and budgets from the past two to three years, the results of the reserve study, any planned special assessments, and the minutes from association meetings to check for any litigation history. If the percentage of delinquent units exceeds 15% or if the proportion of rental units is excessively high, it may be classified as a non-warrantable condo according to Fannie Mae standards, which could limit financing options to higher-interest loans rather than conventional loans, so it is wise to discuss this with your loan officer in advance.

From a rental investment perspective, Long Beach has a steady demand due to its port and California State University, Long Beach campus. However, as buildings age, the management of common areas and the history of structural inspections become variables that determine whether a property is easy to rent or resell in the future. Families considering school districts should refer to ratings from GreatSchools or Niche, but since school district boundaries change frequently, it is advisable to verify the assigned school for the specific address before purchasing.

If you are moving to Long Beach from another state, you should also consider that property tax and insurance systems differ from your previous residence. California's property tax rate is based on the purchase price, and since rates and assessment methods vary by state, it may be beneficial to consult with an accountant regarding your specific situation. This article does not constitute investment or legal advice, and it is recommended to consult with a real estate professional before making any actual contracts.