| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1422 7th St, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1996 |
| Units | 28 |
| Transaction Date | 2024-09-10 |
| Transaction Price | $23,070,000 |
| Buyer | GC 1422-1432 7TH LP |
| Seller | 1422 ON 7TH LLC |
1422 7th St Santa Monica Urban-Core Multifamily
Positioned in Santa Monica s amenity-rich core, this 28-unit asset benefits from deep renter demand and a high-cost ownership market, according to WDSuite s CRE market data. The neighborhood s strong services density and professional tenant base support durable leasing conditions.
Location fundamentals: The property sits in an Urban Core pocket of Santa Monica that ranks 3rd out of 1,441 Los Angeles metro neighborhoods overall (A+). Amenities are a standout the area is among the top quartile nationally for restaurants, cafes, groceries, parks, and pharmacies, reinforcing daily convenience and walk-to-work optionality for residents.
Renter demand and tenure: Housing in the immediate neighborhood shows a strong renter-occupied share, indicating a deep tenant base and steady turnover velocity for multifamily. Within a 3-mile radius, household incomes skew higher and the renter pool is sizable, supporting Class A/B rent capability while still requiring attention to affordability pressure and lease management.
Rents, values, and pricing power: Neighborhood asking rents benchmark in the top percentile nationally, while home values are also in the top percentile, signaling a high-cost ownership market that tends to reinforce reliance on multifamily rentals. For investors, this combination supports retention and renewal strategies, with careful attention to rent-to-income thresholds.
Occupancy and vintage positioning: Neighborhood occupancy sits below the metro median (ranked 1,333 of 1,441) but has improved over the past five years, suggesting gradual stabilization. Built in 1996, the property is newer than the neighborhood s average vintage from the late 1970s, providing relative competitiveness versus older stock while still warranting periodic modernization and systems planning. These trends align with investor needs surfaced by WDSuite s multifamily property research.
Safety indicators for the immediate neighborhood track below metro averages and sit in lower national percentiles. The area s crime standing is near the bottom among 1,441 Los Angeles metro neighborhoods, which warrants prudent on-site security practices, lighting, and access controls, along with resident engagement to support perception and retention.
Investors often contextualize safety with operations: professional management, camera coverage, and partnership with local resources can help mitigate risk. Monitoring trend direction and comparing to adjacent submarkets can also inform leasing strategy and renewal management without relying on block-level conclusions.
Nearby corporate anchors span healthcare, gaming, energy, technology, and engineering a mix that supports weekday traffic, commute convenience, and a stable renter base for professionally managed assets.
- Abbott Laboratories healthcare & medical devices (1.2 miles) HQ
- Activision Blizzard gaming & entertainment (2.3 miles) HQ
- Occidental Petroleum energy corporate offices (4.0 miles) HQ
- Microsoft Offices The Reserves technology offices (4.8 miles)
- AECOM engineering & infrastructure (5.2 miles) HQ
This asset combines top-tier urban amenities with a deep renter pool and elevated ownership costs, supporting durable demand and renewal potential. Built in 1996, it is newer than much of the surrounding stock, offering competitive positioning and potential value-add through targeted interior and system updates rather than full-scale repositioning. According to CRE market data from WDSuite, neighborhood rents benchmark among the highest nationally while occupancy sits below the metro median, framing a thesis centered on operational execution to capture pricing without eroding retention.
Within a 3-mile radius, high household incomes and a sizable professional population underpin leasing velocity, and forecasts indicate growth in households alongside smaller average household sizes both supportive of multifamily demand. The area s employer base and transit-friendly setting further reinforce weekpart activity and commute appeal, though investors should budget for enhanced safety measures and manage affordability pressure to sustain occupancy stability.
- Amenity-dense Urban Core location with top-tier national standing supports leasing and retention
- 1996 vintage provides competitive edge versus older neighborhood stock with targeted modernization upside
- High-cost ownership market reinforces reliance on rentals and sustains depth of tenant demand
- Employer proximity across healthcare, gaming, energy, tech, and engineering supports weekday occupancy and renewals
- Risks: below-metro occupancy, safety considerations, and rent-to-income pressure require disciplined operations