| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 94th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1020 12th St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1997 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1020 12th St Santa Monica Multifamily Investment
Newer 1997 construction competes well against an older local stock while the neighborhood s high renter-occupied share supports depth of tenant demand, according to WDSuite s CRE market data.
This Urban Core pocket of Santa Monica carries an A+ neighborhood rating and ranks 5 out of 1,441 Los Angeles metro neighborhoods, placing it among the strongest sub-areas for multifamily fundamentals. Amenities are dense by national standards pharmacies, parks, restaurants, cafes, and childcare all index in the top ranges nationally supporting day-to-day convenience and lease retention.
The local housing stock skews older (average around 1970), which positions a 1997 asset as relatively competitive versus legacy properties while still warranting ongoing system upgrades as it ages. Neighborhood rents sit in higher national percentiles, and elevated home values (top-tier nationally) indicate a high-cost ownership market that can reinforce reliance on rental housing, translating to pricing power when operations are well managed.
Renter-occupied housing accounts for a substantial share of neighborhood units, indicating a deep tenant base for smaller assets. At the same time, neighborhood occupancy rates have trailed stronger national benchmarks recently, suggesting investors should prioritize leasing execution and renewals to sustain stability in this submarket.
Demographic statistics aggregated within a 3-mile radius point to a high-income consumer base today with projections for population growth and an increase in households by 2028. Smaller average household size is expected to continue, which typically expands the renter pool for one- and two-bedroom formats and supports demand for well-located apartments near daily amenities and employment nodes, based on CRE market data from WDSuite.
Safety indicators for the neighborhood trend below both metro and national benchmarks. Within the Los Angeles metro, the area ranks toward the higher-crime end (crime rank 1,354 out of 1,441 metro neighborhoods), and national percentiles for both property and violent offenses are low. These signals warrant standard risk management measures such as access control, lighting, and resident engagement and careful underwriting for insurance and security costs. Conditions can shift over time, so monitoring trend direction is prudent.
Nearby corporate offices create a diversified white-collar employment base that supports renter demand and retention, especially for professional households commuting within the Westside. Key nodes include Abbott Laboratories, Activision Blizzard, Occidental Petroleum, AECOM, and Microsoft offices.
- Abbott Laboratories corporate offices (1.9 miles) HQ
- Activision Blizzard corporate offices (2.4 miles) HQ
- Occidental Petroleum corporate offices (3.6 miles) HQ
- AECOM corporate offices (4.9 miles) HQ
- Microsoft Offices The Reserves corporate offices (5.3 miles)
1020 12th St is a 1997-vintage, 22-unit multifamily asset positioned in a top-ranked Santa Monica neighborhood where amenity density, high-performing schools, and proximity to major employers underpin durable renter demand. Relative to a local average construction year around 1970, the property s vintage is newer, offering competitive positioning versus older stock while leaving room for targeted modernization to capture premium rents. Elevated home values in the neighborhood reinforce reliance on rental housing, which can support pricing power and lease retention when operations are disciplined.
Neighborhood occupancy has lagged stronger national benchmarks, so performance hinges on active lease management and resident retention. Even so, a substantial share of renter-occupied units locally and a 3-mile radius outlook that points to population growth and more households by 2028 suggest a larger tenant base over time. According to CRE market data from WDSuite, these conditions align with steady demand drivers for well-located Westside apartments.
- Newer-than-neighborhood vintage (1997) offers competitive positioning versus older stock with value-add potential through selective updates.
- High-cost ownership market supports renter reliance and potential pricing power for well-managed units.
- Amenity-rich, A+-rated micro-location with strong schools and proximity to major employers enhances leasing appeal.
- 3-mile radius outlook indicates population and household growth into 2028, expanding the renter pool.
- Risks: neighborhood safety metrics trend below national averages and occupancy trails top-tier markets underwrite security/insurance and prioritize renewals.