| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 94th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1122 6th St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1972 |
| Units | 30 |
| Transaction Date | 1993-08-11 |
| Transaction Price | $2,720,000 |
| Buyer | BISNO DAVID |
| Seller | MARGULIES PAULA |
1122 6th St Santa Monica 30-Unit Multifamily Investment
Positioned in a high-demand coastal neighborhood where the share of renter-occupied housing is elevated at the neighborhood level, this asset benefits from deep tenant pools and resilient leasing drivers, according to WDSuite s CRE market data.
The property sits in Santa Monica s Urban Core with exceptional lifestyle access. Amenities rank 10th among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods and are in the top quartile nationally, underscoring everyday convenience around cafes, groceries, parks, and services that helps sustain renter interest.
Schools are a notable strength: the neighborhood s average school rating is ranked 1st of 1,441 metro neighborhoods and sits in the top national percentile. For multifamily investors, strong schools can improve retention for family households and support long-term leasing stability.
At the neighborhood level, renter concentration is high (ranked 175 of 1,441; top quartile nationally), indicating a deep base of renter-occupied units and broad demand for apartments. While the neighborhood s occupancy rank is weaker (1318 of 1,441; below the national median), the location s amenity density and school strength provide durable fundamentals that can support absorption and renewal performance with the right leasing strategy.
Construction in the immediate area skews older on average (1970), and this property s 1972 vintage is relatively newer than that benchmark, suggesting competitive positioning versus older stock while still leaving room for targeted systems upgrades or modernization to enhance performance.
Home values in the neighborhood are elevated (top percentile nationally), characteristic of a high-cost ownership market in coastal Los Angeles. For multifamily owners, this context tends to reinforce reliance on rental housing and can support pricing power and lease retention, provided rent-to-income and unit quality are managed appropriately. Demographic statistics aggregated within a 3-mile radius indicate stable population with projected growth and an increase in households over the next five years, expanding the local renter pool and supporting occupancy over time.
Safety metrics should be evaluated within a broader metro context. The neighborhood s crime rank is 1,354 out of 1,441 metro neighborhoods, which indicates higher reported crime relative to most of the Los Angeles-Long Beach-Glendale area, and national percentiles are on the lower end. Investors typically address this through common-sense property operations, lighting, and access controls, and by emphasizing the location s strengths in amenities and schools when positioning the asset.
Nearby anchor employers span healthcare, gaming, energy, software, and engineering, supporting a diversified white-collar tenant base and convenient commutes for residents. The list below highlights major employers within a short drive that can underpin leasing and retention.
- Abbott Laboratories — healthcare (1.6 miles) — HQ
- Activision Blizzard — gaming & entertainment (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 30-unit, 1972 multifamily asset in Santa Monica pairs core coastal fundamentals with a renter-driven neighborhood. Based on CRE market data from WDSuite, the area combines top-tier amenities and school quality with a high share of renter-occupied housing at the neighborhood level, indicating a large tenant base. Elevated home values in the neighborhood reinforce reliance on rental housing, which can support pricing power and renewal performance when units are positioned to local expectations.
Relative to the neighborhood s older average vintage (1970), the property s 1972 construction offers competitive standing versus older buildings while still inviting targeted capital planning for systems and interiors to drive rent and retention. Within a 3-mile radius, outlooks point to population stability and growth in households over the next five years, expanding the renter pool and supporting leasing. Key watch items include softer neighborhood occupancy rankings and safety metrics, which place a premium on hands-on operations, marketing, and resident experience.
- Core Santa Monica location with top-ranked amenities and schools supporting durable renter demand
- High renter concentration at the neighborhood level indicates depth of tenant base and leasing resilience
- 1972 vintage is relatively newer than local average, with value-add potential through targeted modernization
- High-cost ownership market supports rental reliance and potential pricing power with appropriate affordability management
- Risks: below-median neighborhood occupancy rank and safety metrics require strong operations and resident services