| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 89th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1243 20th St, Santa Monica, CA, 90404, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1989 |
| Units | 23 |
| Transaction Date | 1998-04-27 |
| Transaction Price | $2,850,000 |
| Buyer | SEAPOINT VILLAS LLC |
| Seller | TOWER ARIZONA |
1243 20th St Santa Monica Multifamily Investment
Renter demand at the neighborhood level is reinforced by an amenity-rich Urban Core location and a high share of renter-occupied housing, according to WDSuite’s CRE market data. Neighborhood occupancy is near the national median, supporting stable operations for well-managed assets.
Situated in Santa Monica’s Urban Core, the property benefits from one of the metro’s stronger neighborhood profiles (A+ rating). Amenity density is a standout: restaurants and cafes rank in the top national percentiles, grocery access is competitive, and pharmacies are effectively top-of-market nationally. These dynamics support walkability and daily convenience that typically translate into durable renter interest.
The neighborhood’s renter concentration is high (renter-occupied share in the top national percentiles), signaling a deep tenant base for multifamily. Neighborhood occupancy sits around the national midpoint, which suggests steady leasing conditions rather than outsized vacancy risk. Median school ratings are above the national median, which can aid retention for households prioritizing education access.
Vintage context: the average construction year across nearby stock is early 1980s, while this asset’s 1989 vintage positions it somewhat newer than much of the local inventory. For investors, that can provide relative competitiveness versus older stock, though planning for system updates and selective renovations remains prudent to meet current renter expectations.
Within a 3-mile radius, demographics reflect an upper-income, educated renter pool (neighborhood demographics rank near the top decile nationally). While recent population change has been modest, projections indicate growth in both population and households alongside slightly smaller household sizes, implying a larger tenant base and continued demand for professionally managed rentals. In a high-cost ownership market, elevated home values reinforce reliance on multifamily housing, while rent-to-income levels suggest manageable affordability pressure that can support lease retention.
Safety indicators for the neighborhood track close to national averages overall. The neighborhood’s crime standing sits around the metro median among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, indicating neither an outlier for safety nor for elevated risk in a regional context.
Recent trends are constructive: both violent and property offense rates show notable year-over-year improvement, placing the neighborhood in stronger national percentiles for declining incidents. For investors, the takeaway is that conditions are broadly stable with signs of improvement; as always, property-level security, lighting, and access controls can further support resident satisfaction and retention.
Employment anchors within a short commute include gaming, healthcare products, energy, engineering, and technology offices, supporting a diversified professional renter base and steady leasing from households prioritizing commute convenience. The list below reflects nearby corporate offices and headquarters most relevant to resident employment patterns.
- Activision Blizzard — gaming (1.8 miles) — HQ
- Abbott Laboratories — healthcare products (2.0 miles) — HQ
- Occidental Petroleum — energy (3.0 miles) — HQ
- AECOM — engineering (4.2 miles) — HQ
- Microsoft Offices The Reserves — technology offices (5.0 miles)
This 23-unit, 1989-vintage asset sits in a top-performing Santa Monica neighborhood where amenity access, high renter concentration, and upper-income demographics underpin consistent multifamily demand. Neighborhood occupancy trends are near the national midpoint, and elevated ownership costs in the area tend to sustain reliance on rentals, supporting day-to-day leasing stability. According to CRE market data from WDSuite, neighborhood rents and incomes benchmark well above national norms, suggesting scope for disciplined revenue management while monitoring affordability to preserve retention.
Relative to the local 1980s-heavy stock, the property’s late-1980s vintage offers competitive positioning versus older comparables, with potential to capture value through targeted modernization and operational enhancements. Forecasts within a 3-mile radius point to growth in both population and households alongside smaller household sizes, expanding the renter pool and reinforcing the long-term case for professionally managed multifamily in this corridor.
- Amenity-rich Urban Core location with national top-tier access to dining, groceries, and services that supports leasing velocity
- High renter-occupied share indicates deep tenant base and demand resilience for multifamily
- 1989 vintage offers competitive positioning versus older local inventory with value-add potential via selective updates
- Strong nearby employer base across gaming, healthcare, energy, engineering, and technology supports steady renter inflows
- Risk: Safety metrics are around metro median and occupancy is near national midpoints—performance depends on active management and asset-level improvements