| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 78th | Best |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 132 Strand St, Santa Monica, CA, 90405, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 2003-03-14 |
| Transaction Price | $4,100,000 |
| Buyer | STRAND STREET LLC |
| Seller | 1031 REVERSE EXCHANGE CO INC |
132 Strand St, Santa Monica Multifamily Investment
Neighborhood fundamentals point to durable renter demand supported by high ownership costs and a deep renter base, according to WDSuite’s CRE market data. Metrics cited reflect the surrounding neighborhood, not the property itself.
Santa Monica’s Ocean Park area offers investors a rare mix of coastal lifestyle and urban convenience. The neighborhood ranks in the top quartile among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, with amenity density that supports leasing velocity and retention. Cafes, restaurants, and parks are especially concentrated, while pharmacy access is comparatively thin—an operational nuance rather than a core demand driver.
From an investor lens, elevated neighborhood home values and a high value-to-income ratio reinforce reliance on rentals, which supports pricing power and lease stability for multifamily assets. Neighborhood rents sit at the higher end of the national spectrum, and the renter-occupied share is high, indicating depth in the tenant pool. While neighborhood occupancy is around the national midpoint and has softened modestly over five years, amenity strength and coastal positioning continue to underpin demand.
Vintage matters here: the neighborhood’s average construction year is 1966, and this property’s 1972 vintage is newer than that benchmark, aiding competitiveness versus older stock; however, aging systems may still benefit from targeted modernization to meet current renter expectations.
Demographic statistics aggregated within a 3-mile radius show recent population contraction but a projected increase in households alongside smaller average household sizes. For multifamily, that points to a larger tenant base over the medium term and supports occupancy stability. Household incomes are strong in the area, and elevated ownership costs sustain renter reliance—factors that, together with strong amenities, bolster the investment case for stabilized and value-add strategies.
Safety indicators for the surrounding neighborhood trend weaker than national benchmarks, with neighborhood crime levels positioned on the higher end within the Los Angeles-Long Beach-Glendale metro (1,441 neighborhoods). Nationally, the neighborhood sits below average for safety, so investors should underwrite prudent security measures and active property management.
Recent data indicates property and violent offense rates have increased year over year in the neighborhood. For investors, this typically translates to enhanced lighting, access control, and vendor partnerships as part of operating plans, as well as careful attention to leasing and resident engagement. Conditions can vary block to block, so site-specific diligence remains important.
Proximity to major employers supports a steady renter pipeline and short commute times for residents. Key nearby employers include Abbott Laboratories, Activision Blizzard, Microsoft, Occidental Petroleum, and AECOM.
- Abbott Laboratories — healthcare & medical devices (0.23 miles) — HQ
- Activision Blizzard — interactive entertainment (2.26 miles) — HQ
- Microsoft Offices The Reserves — technology offices (4.02 miles)
- Occidental Petroleum — energy (4.55 miles) — HQ
- AECOM — engineering & infrastructure (5.52 miles) — HQ
132 Strand St is a 20-unit asset positioned in a high-amenity coastal neighborhood where renter reliance is strong and home values are elevated. Based on CRE market data from WDSuite, neighborhood occupancy sits near the national midpoint while renter concentration is high—conditions that support stable leasing with room for asset-specific execution to drive performance. The area’s amenity density (cafes, restaurants, parks) and proximity to corporate employment nodes bolster demand visibility.
Built in 1972, the property is modestly newer than the neighborhood’s average vintage, helping competitiveness versus older stock; investors should still plan for targeted system upgrades and modernization to capture value-add upside. Demographic statistics aggregated within a 3-mile radius point to projected household growth and smaller household sizes, which can expand the renter pool over time. Elevated ownership costs support tenant retention and pricing power, though rent-to-income pressures and below-average school ratings for the neighborhood warrant disciplined lease management.
- Coastal location with top-tier amenity access supporting renter demand and retention
- 1972 vintage is newer than local average, with clear value-add pathways via modernization
- Strong renter concentration and elevated ownership costs reinforce multifamily demand
- Proximity to major employers underpins leasing stability
- Risks: affordability pressure, below-average neighborhood school ratings, and the need for active safety and asset management