| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 94th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1115 5th St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1973 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1115 5th St Santa Monica Multifamily Investment
Positioned in an Urban Core pocket with deep renter demand, the surrounding neighborhood shows strong amenity access and premium schools that support leasing durability, according to WDSuite’s CRE market data.
Located in Santa Monica’s Urban Core, the neighborhood ranks 5th among 1,441 Los Angeles metro neighborhoods with an A+ rating, signaling durable fundamentals for multifamily. Amenity access is a standout — restaurants, cafes, parks, pharmacies, and groceries score in the top quartile nationally — supporting day-to-day convenience and renter appeal.
Renter concentration is high at the neighborhood level (about seven in ten housing units are renter-occupied), indicating a sizable tenant base and steady multifamily demand. Neighborhood occupancy trends are softer than national leaders, so lease-up and renewal strategy matter, but the depth of the renter pool helps support absorption and retention.
School quality benchmarks are exceptionally strong for the neighborhood, rating in the top tier nationally, which can enhance long-term demand among households prioritizing education. Median contract rents in the neighborhood sit well above national norms while the rent-to-income profile suggests manageable affordability pressure, giving operators room for disciplined pricing without overreaching on retention risk.
Within a 3-mile radius, demographics reflect a high-income renter base today and a projected expansion of households by 2028, even as average household size trends lower. This points to a larger renter pool and continued demand for professionally managed apartments, reinforcing occupancy stability for well-positioned assets.
Home values in the surrounding neighborhood are elevated relative to national benchmarks, a high-cost ownership context that tends to sustain reliance on rental housing and supports pricing power for quality multifamily product. At the same time, neighborhood NOI per unit performance ranks in the top national tier, underscoring competitive revenue potential in this submarket context.
Safety indicators for the neighborhood compare unfavorably to many Los Angeles metro areas and sit below national averages. Based on ranks near the bottom among 1,441 metro neighborhoods and low national percentiles, both violent and property offense measures are elevated. Recent year-over-year trends indicate increases, so prudent operators typically budget for security-minded operations and resident experience initiatives.
Investors should frame these metrics at the neighborhood scale rather than the property itself and consider how building access controls, lighting, and community engagement can mitigate risk and support leasing stability over time.
Proximity to major employers in healthcare, video games, energy, software, and engineering supports a white-collar renter base and commute convenience that can aid leasing and retention.
- Abbott Laboratories — healthcare (1.6 miles) — HQ
- Activision Blizzard — video games (2.6 miles) — HQ
- Occidental Petroleum — energy (4.1 miles) — HQ
- Microsoft Offices The Reserves — software offices (5.2 miles)
- AECOM — engineering & infrastructure (5.3 miles) — HQ
This 46-unit asset sits in a top-ranked Santa Monica neighborhood where amenity density, premium schools, and a predominantly renter-occupied housing stock underpin durable multifamily demand. Elevated neighborhood home values reinforce renter reliance on apartments, while rent levels and income profiles suggest balanced affordability pressure that can support steady renewal outcomes.
Looking ahead, a projected increase in households within a 3-mile radius indicates a larger tenant base and supports occupancy stability for well-run properties. According to CRE market data from WDSuite, neighborhood NOI per unit performance trends in the top national tier, highlighting revenue potential for quality operations, even as operators should plan for security-conscious management and thoughtful lease strategies given softer neighborhood occupancy versus national leaders.
- Top-ranked Urban Core location with strong amenities and premium neighborhood schools
- High renter concentration supports demand depth and leasing durability
- Elevated ownership costs sustain apartment demand and pricing power
- Expanding household counts within 3 miles point to a larger renter pool by 2028
- Risks: below-average neighborhood safety metrics and softer occupancy require security-minded, retention-focused operations