| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 94th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1017 9th St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1974 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1017 9th St Santa Monica Multifamily Opportunity
Positioned in a high-demand coastal neighborhood with strong amenities and schools, this asset benefits from durable renter depth and a high-cost ownership market, according to WDSuite’s CRE market data.
Santa Monica’s urban core around 1017 9th St ranks among the top quartile of Los Angeles metro neighborhoods (out of 1,441) and is supported by exceptional daily-life convenience. Amenity density is nationally strong, and the neighborhood posts a top national school rating, a combination that tends to sustain leasing interest and retention for quality multifamily assets.
The area is a high-cost ownership market (home values in the upper national percentiles), which reinforces reliance on rental housing and helps preserve pricing power. Neighborhood renter concentration is elevated (share of housing units that are renter-occupied), signaling a deep tenant base for multifamily. At the same time, neighborhood occupancy is below the national median, suggesting investors should plan for active leasing and management to capture demand.
Within a 3-mile radius, demographic indicators show a well-capitalized renter pool and forward growth potential. Household incomes are comparatively high, and forecasts call for population and household expansion through 2028 alongside a gradual decrease in average household size. For investors, that points to a larger tenant base over time and supports occupancy stability for properties positioned with the right unit mix and finishes.
Operationally, median asking rents sit in the upper national percentiles while rent-to-income levels are manageable relative to local earnings, which can aid lease retention. Amenity access is a differentiator here, with abundant restaurants, parks, groceries, pharmacies, and childcare options that compare favorably to both metro and national benchmarks—attributes that typically translate into steady touring traffic and resident stickiness.
Relative to national benchmarks, this neighborhood sits in lower safety percentiles, indicating higher reported crime than many areas nationwide. Within the Los Angeles metro context, it trends below the metro average as well. Recent data also show a year-over-year uptick in reported incidents. Investors commonly underwrite enhanced security measures, lighting, and loss-prevention protocols in similar urban-core locations and calibrate insurance and operating reserves accordingly.
The immediate area draws from a diversified white-collar employment base that supports renter demand and short commutes. Notable nearby employers include Abbott Laboratories, Activision Blizzard, Occidental Petroleum, AECOM, and Microsoft Offices The Reserves.
- Abbott Laboratories — healthcare products (1.8 miles) — HQ
- Activision Blizzard — interactive entertainment (2.6 miles) — HQ
- Occidental Petroleum — energy (3.8 miles) — HQ
- AECOM — engineering & infrastructure (5.1 miles) — HQ
- Microsoft Offices The Reserves — technology offices (5.3 miles)
1017 9th St is a 23-unit, 1974-vintage asset in an amenity-rich pocket of Santa Monica where high home values and a large share of renter-occupied housing underpin multifamily demand. The location’s top-tier school environment and dense retail/parks support leasing velocity and resident retention, while rent levels sit in upper national percentiles. According to CRE market data from WDSuite, neighborhood occupancy trends trail national medians, so hands-on leasing and targeted upgrades can be important to fully capture demand.
The 1974 construction suggests near- to medium-term capital planning for systems and interiors, creating potential value-add pathways to strengthen competitive positioning against newer product. The nearby concentration of corporate employers adds daytime population and supports workforce housing dynamics that can stabilize occupancy through cycles.
- Amenity- and school-rich urban core that supports leasing velocity and retention
- High-cost ownership market reinforces rental demand and pricing power
- Proximity to major employers supports a durable tenant base
- 1974 vintage with value-add potential via system and interior upgrades
- Risks: neighborhood safety metrics below national averages and occupancy below national median require prudent security, leasing strategy, and reserves