| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 94th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1115 14th St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1972 |
| Units | 22 |
| Transaction Date | 2019-01-31 |
| Transaction Price | $11,700,000 |
| Buyer | HSR 14th St LLC |
| Seller | 1115 14th St LLC, Private Investor, Sharyl Gabriel, PrCiaces/hu Enqitu aivnadle /nstf |
1115 14th Street Santa Monica Multifamily Investment
This 22-unit property sits in a neighborhood ranking 5th among 1,441 metro neighborhoods with 70% renter occupancy supporting stable tenant demand, according to CRE market data from WDSuite.
The property occupies an A+ rated neighborhood that ranks in the top quartile nationally across key investment metrics. With 70% of housing units renter-occupied, the area demonstrates strong rental demand fundamentals. Median household income of $110,249 supports rent collection stability, while the 98th national percentile for amenities provides tenant retention advantages through access to restaurants, cafes, and parks.
Built in 1972, this property aligns with the neighborhood's average construction year of 1970, indicating consistent building stock that may present value-add renovation opportunities for investors seeking to modernize units or common areas. The area's $2,223 median contract rent reflects premium pricing power, though investors should monitor the rent-to-income ratio dynamics for lease renewal considerations.
Demographics within a 3-mile radius show 165,000 residents with 67% renter-occupied housing units, creating a substantial tenant pool. Projections indicate household growth to 113,000 by 2028, representing a 38% increase that should expand the renter base. The area's high educational attainment (43% bachelor's degree holders) and substantial high-income households support rent stability and collection performance.
Neighborhood-level occupancy of 88% sits below metro averages, suggesting potential absorption opportunities as market conditions improve. The area's exceptional amenity density, including top-tier school ratings and restaurant access, positions properties competitively for tenant attraction and retention in this urban core location.
Crime metrics indicate challenges that require investor attention and risk assessment. The neighborhood ranks 1,354th among 1,441 metro neighborhoods for property crime, placing it in the bottom quartile locally with an 18th national percentile rating. Property offense rates of 3,883 per 100,000 residents exceed regional norms, while violent crime rates of 521 per 100,000 also trend above metro averages.
Recent trends show property crime increasing 49% year-over-year, requiring careful consideration of security measures, insurance costs, and tenant retention strategies. Investors should factor these conditions into due diligence, potentially exploring enhanced security systems, lighting improvements, or partnerships with local safety initiatives to support property performance and resident confidence.
The Santa Monica area benefits from proximity to major corporate headquarters and offices that support workforce housing demand and commute convenience for tenants.
- Abbott Laboratories — pharmaceuticals (1.9 miles) — HQ
- Activision Blizzard — gaming & entertainment (2.2 miles) — HQ
- Occidental Petroleum — energy (3.4 miles) — HQ
- AECOM — engineering & construction (4.7 miles) — HQ
- Microsoft Offices The Reserves — technology (5.1 miles)
This 22-unit Santa Monica property offers investors exposure to a premium coastal market with exceptional amenity access and strong demographic fundamentals. The 1972 construction year presents value-add renovation opportunities to capture upside through unit modernization and common area improvements. With 70% renter occupancy in the immediate neighborhood and projected household growth of 38% through 2028, the tenant base should expand significantly.
The area's A+ neighborhood rating and top-quartile national performance across housing and demographic metrics support long-term investment stability. High median incomes exceeding $110,000 and substantial high-income household concentration provide rent collection security, while proximity to major corporate headquarters including Abbott Laboratories and Activision Blizzard supports workforce housing demand.
- A+ rated neighborhood ranking 5th among 1,441 metro neighborhoods
- Value-add potential through renovation of 1972-vintage property
- Projected 38% household growth supporting expanded renter demand
- Proximity to major corporate headquarters and employment centers
- Risk: Elevated crime rates require security considerations and risk management