| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 91st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1128 Ocean Park Blvd, Santa Monica, CA, 90405, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1975 |
| Units | 86 |
| Transaction Date | 2003-10-31 |
| Transaction Price | $7,850,000 |
| Buyer | E. Andrew Matyas Living Trust |
| Seller | KWI 1128 Ocean Park, LP |
1128 Ocean Park Blvd Santa Monica Multifamily Opportunity
Positioned in a high-cost ownership pocket of Santa Monica, the area s renter demand and nationally strong occupancy support durable income, according to WDSuite s CRE market data.
This Ocean Park address sits in an Urban Core neighborhood that ranks 11th among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, signaling top-tier location fundamentals for multifamily investors. Amenity access is a standout: cafes, parks, pharmacies, and daily needs score in the top quartile nationally, helping with leasing velocity and retention.
Neighborhood occupancy is above national averages and broadly stable, supporting income consistency. Within a 3-mile radius, the housing stock skews renter-occupied, providing a deep tenant base for an 86-unit asset. Median home values are elevated compared with national norms, which tends to reinforce reliance on multifamily housing and sustain renter demand.
Demographics aggregated within 3 miles indicate a high-income renter pool and small average household size, with forecast growth in both population and households by 2028. That points to a larger tenant base and ongoing demand for quality units, particularly near employment nodes and lifestyle amenities.
Vintage context matters: the neighborhood s average construction year is 1961, while the subject s 1975 vintage is newer than much of the surrounding stock. This generally improves competitive positioning versus older buildings, while still leaving room for modernization to capture rent premiums and manage capital plans over the hold.
Safety trends should be evaluated in context. Compared with neighborhoods nationwide, this area sits below the national median for safety, and it ranks toward the higher-crime end of Los Angeles-Long Beach-Glendale (1,441 neighborhoods total). Property offense estimates have ticked up year over year, while violent offense levels remain comparatively lower but still below national percentiles.
For underwriting, investors often incorporate practical measures such as lighting, access control, and community engagement, and may reflect conservative loss assumptions relative to metro peers with stronger safety percentiles. Monitoring neighborhood trendlines can help align capital planning and insurance expectations.
Proximity to major corporate offices underpins renter demand and commuting convenience, with a concentration in healthcare, gaming/technology, and energy/engineering. The employers below represent the nearby base most relevant to leasing and retention at this location.
- Abbott Laboratories — healthcare & medical (0.9 miles) — HQ
- Activision Blizzard — gaming & technology (1.4 miles) — HQ
- Microsoft Offices The Reserves — technology offices (3.5 miles)
- Occidental Petroleum — energy (3.9 miles) — HQ
- AECOM — engineering & design (4.7 miles) — HQ
1128 Ocean Park Blvd offers scale in a top-ranked Santa Monica location where neighborhood occupancy is solid nationally and amenity access is exceptional. Elevated ownership costs locally support multifamily demand, while a predominantly renter-occupied housing landscape within 3 miles provides depth to the tenant base. According to commercial real estate analysis from WDSuite, the submarket s strong positioning and lifestyle drivers have historically supported income stability.
Built in 1975, the asset is newer than much of the immediate area s housing stock, indicating competitive positioning versus older buildings and potential value-add through targeted modernization. Forward-looking household growth within a 3-mile radius suggests a larger renter pool over time, which can support occupancy and pricing power when paired with disciplined lease and capital management.
- Prime Urban Core location with top-tier amenity access aiding leasing and retention
- Renter-occupied concentration nearby supports a deep, sustainable tenant base
- 1975 vintage provides competitive positioning vs. older stock with value-add potential
- Household and income growth within 3 miles point to medium-term demand support
- Risks: below-median safety percentiles locally and metro-relative occupancy rank warrant conservative underwriting