| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1125 3rd St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1992 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1125 3rd St Santa Monica Multifamily Investment
Neighborhood data points to durable renter demand and strong amenity access, according to WDSuite’s CRE market data, with metrics describing the surrounding neighborhood rather than this specific property. High-cost ownership conditions support lease retention and pricing discipline for well-managed assets.
Situated in Santa Monica’s Urban Core, the asset benefits from one of the metro’s most amenity-rich environments. The neighborhood ranks 1st out of 1,441 Los Angeles metro neighborhoods for overall amenities and sits in the top national percentile for restaurants, groceries, cafes, parks, and pharmacies — a combination that supports renter convenience and reduces friction in day-to-day living. For investors, this density typically correlates with deeper tenant pools and competitive leasing.
The local housing stock skews older, with the neighborhood’s average construction year around 1978 (above metro median age). With a 1992 vintage, this property is newer than much of the immediate competition, positioning it competitively against older stock while still warranting selective modernization planning for long-term systems and finishes.
Renter-occupied housing comprises a large share of local units (around 83% at the neighborhood level), indicating a deep renter base supportive of multifamily absorption and ongoing demand. Neighborhood occupancy has trended up over the past five years, which can support income stability when paired with asset-level operations, even if individual property performance will vary.
Within a 3-mile radius, demographics show a high-income renter pool and small average household sizes, with forecasts pointing to population and household growth over the next five years. This combination typically expands the renter pool and supports occupancy stability. Elevated home values in the neighborhood (near the top of national benchmarks) signal a high-cost ownership market, reinforcing reliance on rental housing and aiding lease retention for well-positioned assets. At the same time, higher rent-to-income ratios suggest affordability pressure for some cohorts, calling for disciplined lease management and renewal strategies.
Safety indicators for the surrounding neighborhood trend weaker than both metro and national norms. Based on WDSuite’s CRE market data, the area ranks near the bottom among 1,441 Los Angeles metro neighborhoods, and national percentiles place it well below average for safety. Recent one-year changes show increases in both property and violent offense rates, which underscores the importance of on-site security practices, lighting, and resident communication.
For investors, the takeaway is risk management rather than a deal breaker: competitive locations with strong amenity access can still lease effectively, but underwriting should reflect elevated security and operating considerations and the potential impact on insurance and turnover.
The area draws from a substantial Westside employment base, supporting renter demand through short commutes to headquarters and major corporate offices listed below.
- Abbott Laboratories — corporate offices (1.5 miles) — HQ
- Activision Blizzard — interactive entertainment HQ (2.7 miles) — HQ
- Occidental Petroleum — energy HQ (4.3 miles) — HQ
- Microsoft Offices The Reserves — technology offices (5.2 miles)
- AECOM — engineering & infrastructure HQ (5.5 miles) — HQ
1125 3rd St offers scale at 72 units in a high-demand, amenity-dense Santa Monica location where renter-occupied housing dominates and ownership costs are elevated. Based on CRE market data from WDSuite, neighborhood occupancy has improved over the past five years, and amenity access ranks at the top of the metro and nation — factors that typically support leasing velocity and tenant retention. The 1992 vintage is newer than much of the local stock, suggesting competitive positioning with targeted modernization to enhance yield.
Within a 3-mile radius, forecasts indicate population and household growth alongside small household sizes, which generally expand the renter pool and support occupancy stability. At the same time, higher rent-to-income levels in the neighborhood point to affordability pressure for some segments, calling for prudent renewal strategies and expense controls.
- Amenity-rich Urban Core location that supports deep tenant demand and leasing velocity.
- 1992 vintage competes well versus older neighborhood stock; targeted upgrades can drive NOI.
- High ownership costs reinforce renter reliance, aiding retention and pricing power for well-managed assets.
- 3-mile forecasts show expanding households and a larger renter pool supporting occupancy stability.
- Risks: below-average safety metrics and affordability pressure warrant security planning and conservative underwriting.