| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1420 5th St, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 2013 |
| Units | 50 |
| Transaction Date | 2016-11-21 |
| Transaction Price | $44,000,000 |
| Buyer | Verbena Road Holdings LTD |
| Seller | AEW Capital Management |
1420 5th St Santa Monica Multifamily Investment
Amenity-rich Urban Core location with deep renter demand and a high-cost ownership landscape supports leasing durability, according to WDSuite’s CRE market data. 2013 construction and larger floor plans position the asset competitively versus older local stock.
Urban core strengths: The neighborhood carries an A+ rating and ranks 3rd out of 1,441 Los Angeles metro neighborhoods, reflecting exceptional livability drivers for renters. Amenity access is among the strongest nationally, with dense concentrations of restaurants, groceries, parks, cafes, and pharmacies that reinforce walkability and day-to-day convenience for residents.
Renter concentration and demand: Within the neighborhood, a high share of housing units are renter-occupied, indicating a deep tenant base and steady turnover pipeline for multifamily operators. While the neighborhood occupancy rate is a neighborhood metric (not property-specific) and sits below the national median, the combination of commuter convenience and services tends to support leasing velocity in comparable urban submarkets.
Demographics within 3 miles: Data aggregated within a 3-mile radius shows a well-capitalized renter pool, with higher-income households and a projected increase in households through 2028. Even as average household size trends smaller, the expected growth in household count points to a larger tenant base and supports occupancy stability. Elevated home values in the neighborhood (top tier nationally) signal a high-cost ownership market, which can sustain multifamily demand and lease retention.
Asset positioning: The area’s average building vintage skews older (late-1970s), so a 2013 property can compete well on finishes, systems, and curb appeal while still allowing room for targeted upgrades. These local dynamics align with investor-focused commercial real estate analysis that prioritizes renter convenience, unit quality, and proximity to employment.
Safety conditions should be evaluated at the neighborhood level and over time. This neighborhood ranks 1,374 out of 1,441 Los Angeles metro neighborhoods for crime, indicating higher incidence relative to metro and national norms. Nationally, the area sits in a lower safety percentile, so investors typically underwrite with conservative assumptions on security features, lighting, and common-area controls, and monitor trend direction rather than any single-year reading.
Recent year estimates indicate upticks in both property and violent offenses at the neighborhood scale. While these are not property-specific figures, prudent planning may include operational measures and budgeting for enhancements that support resident comfort and retention.
Proximity to major employers supports workforce housing demand and retention. Notable nearby employers include Abbott Laboratories, Activision Blizzard, Occidental Petroleum, Microsoft, and AECOM.
- Abbott Laboratories — healthcare & devices (1.2 miles) — HQ
- Activision Blizzard — interactive entertainment (2.4 miles) — HQ
- Occidental Petroleum — energy corporate offices (4.1 miles) — HQ
- Microsoft Offices The Reserves — technology offices (4.8 miles)
- AECOM — engineering & infrastructure (5.3 miles) — HQ
1420 5th St offers 50 units built in 2013 with larger-than-typical floor plans for the submarket, improving competitive positioning versus the neighborhood’s older 1970s-era stock. The location benefits from exceptional amenity access and a high share of renter-occupied housing units at the neighborhood level, supporting a durable tenant base and potential lease-up resilience. Elevated ownership costs in the area further reinforce reliance on multifamily housing for many households.
According to CRE market data from WDSuite, the neighborhood’s occupancy level is a neighborhood metric and currently trails national medians, but 3-mile demographics point to a projected increase in households through 2028 and strong incomes that can support class-competitive rents with attentive lease management. Nearby corporate employment nodes add to weekday demand and can aid retention among professional renters.
- 2013 vintage and larger layouts compete well against older local stock while allowing targeted value-add
- Amenity-rich Urban Core location supports leasing velocity and resident retention
- High-cost ownership market sustains multifamily demand and pricing power potential
- Nearby corporate employment base underpins weekday demand and renewals
- Risks: neighborhood safety metrics and affordability pressure require proactive operations and tenant retention planning