| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1128 5th St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1997 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1128 5th Street Santa Monica Multifamily Investment
This 32-unit property sits in a neighborhood ranking top quartile nationally for amenities and household income, with 83% rental occupancy supporting stable tenant demand according to CRE market data from WDSuite.
Located in Santa Monica's Urban Core, this neighborhood ranks 3rd among 1,441 metro neighborhoods with an A+ rating, placing it in the top quartile nationally for overall investment attractiveness. The area demonstrates exceptional amenity density with 154 restaurants per square mile and comprehensive retail access including 14 grocery stores per square mile, both ranking in the 100th national percentile for tenant convenience.
Built in 1997, this property represents newer construction compared to the neighborhood average of 1978, potentially reducing near-term capital expenditure requirements while maintaining competitive positioning. The 83% rental share among housing units reflects strong renter demand dynamics, with median household income of $106,639 ranking in the 79th national percentile and supporting rent collection stability.
Demographics within a 3-mile radius show a population of 130,015 with 66.4% of housing units occupied by renters. Median contract rent of $2,362 has increased 33.2% over five years, while forecasted household income growth of 21.3% through 2028 suggests continued affordability for target demographics. The neighborhood's high home values averaging $1.45 million reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing.
Current neighborhood occupancy of 87.4% provides a baseline for lease management, though this represents below-metro performance requiring attention to retention strategies. The area's 99th percentile ranking for educational attainment (47.1% with bachelor's degrees) and proximity to major employment centers support long-term tenant quality and stability.
Safety metrics present mixed signals requiring careful consideration in investment planning. The neighborhood ranks 1,374th among 1,441 metro neighborhoods for overall crime, placing it in the 13th national percentile and indicating elevated crime levels compared to most areas nationwide.
Property crime rates show particular concern with an estimated 13,250 incidents per 100,000 residents annually, ranking in the bottom percentile nationally. Additionally, property crime increased 73% year-over-year, suggesting deteriorating conditions that could impact tenant retention and necessitate enhanced security measures. Violent crime rates of 1,230 per 100,000 residents also rank poorly at the 3rd national percentile, with a 29.4% annual increase adding to security considerations for property management and tenant screening protocols.
The property benefits from proximity to major corporate headquarters and offices, providing workforce housing opportunities for professional tenants in technology, healthcare, and energy sectors.
- Abbott Laboratories — pharmaceutical and healthcare (1.5 miles) — HQ
- Activision Blizzard — gaming and entertainment technology (2.6 miles) — HQ
- Occidental Petroleum — energy and oil services (4.1 miles) — HQ
- Microsoft Offices The Reserves — technology and software (5.2 miles)
- AECOM — engineering and infrastructure (5.4 miles) — HQ
This Santa Monica property offers exposure to one of Los Angeles County's most amenity-rich neighborhoods, with top-quartile national rankings for demographics, housing fundamentals, and retail access. The 1997 construction year positions the asset favorably against the neighborhood's 1978 average, potentially reducing immediate capital requirements while maintaining competitive appeal. Multifamily property research indicates the area's 83% rental occupancy share and $106,639 median household income support stable tenant demand, though current neighborhood occupancy of 87.4% suggests active lease management will be essential for optimization.
Demographics within a 3-mile radius project household growth and income expansion through 2028, with forecasted median household income reaching $153,533 representing 21.3% growth. However, elevated home values averaging $1.45 million reinforce rental demand as ownership remains financially challenging for most residents. The property's proximity to major employers including Abbott Laboratories, Activision Blizzard, and Occidental Petroleum headquarters provides workforce housing opportunities, though investors should carefully evaluate crime trends and their potential impact on tenant retention and property operations.
- Top-quartile neighborhood ranking with exceptional amenity density supporting tenant retention
- 1997 construction reduces near-term capital expenditure compared to area average
- High-income demographics and projected household growth through 2028
- Proximity to major corporate headquarters provides workforce housing demand
- Elevated crime metrics and below-metro occupancy require active management strategies