| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1425 6th St, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 1997-04-23 |
| Transaction Price | $450,000 |
| Buyer | GC 1423-1425 6TH LP |
| Seller | 1423 ON 6TH LLC |
1425 6th St Santa Monica Multifamily Opportunity
Positioned in a renter-heavy urban core with strong amenity density, the neighborhood supports durable tenant demand and pricing power, according to WDSuite’s CRE market data. Neighborhood metrics referenced reflect the surrounding area, not the property’s own occupancy or rents.
Santa Monica’s urban core around 1425 6th St ranks near the top among 1,441 Los Angeles metro neighborhoods for amenities, with restaurants, groceries, cafes, parks, and pharmacies placing in the top quartile nationally. This concentration of daily needs and lifestyle options typically supports leasing velocity and resident retention for multifamily assets.
The property’s 1998 vintage is newer than the neighborhood’s average construction year (1978). For investors, this positioning can be competitively favorable versus older stock while still warranting targeted system updates or modernization to enhance unit finishes and operational efficiency.
Neighborhood tenure skews heavily renter-occupied (share of housing units), indicating depth in the local tenant base and potential demand stability. Elevated ownership costs in the area, alongside a high value-to-income environment, reinforce reliance on multifamily housing and can support pricing discipline when managed with attention to lease renewals and concessions.
Within a 3-mile radius, demographics show high median incomes and a sizable professional cohort, with forecasts pointing to population and household growth and a gradual decrease in household size by 2028. For multifamily, that translates into a broader renter pool and sustained demand for well-located, professionally managed units near jobs and transit.
Relative to other Los Angeles metro neighborhoods (1,441 total), this area ranks toward the lower end for safety and sits well below national percentiles. Recent year-over-year movements indicate increases in both property and violent offense categories. Investors typically underwrite with conservative assumptions around security, lighting, and access controls, and may emphasize professional management and resident engagement to support on-site conditions.
The surrounding Westside employment base features headquarters and major offices in gaming, energy, engineering, and technology — a concentration that supports renter demand through short commutes and diversified incomes. The list below reflects nearby anchors most relevant to workforce housing dynamics in this neighborhood.
- Abbott Laboratories — healthcare & diagnostics (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 24-unit, 1998-vintage asset benefits from a renter-centric neighborhood with exceptional amenity access and a high-cost ownership landscape that tends to sustain multifamily demand and resident stickiness. While neighborhood occupancy can fluctuate and sits below stronger-performing submarkets, leasing is supported by diversified Westside employment, high household incomes within a 3-mile radius, and forecasts for additional population and household growth — expanding the tenant base for well-managed properties.
Based on commercial real estate analysis from WDSuite, newer-vintage positioning relative to the local 1970s-era stock suggests competitive appeal with selective value-add to interiors and building systems. Investors should balance the amenity and income fundamentals against area safety rankings and underwrite for prudent security measures and active lease management to protect occupancy and retention.
- Renter-heavy neighborhood and high ownership costs support a deep tenant base and pricing discipline.
- 1998 vintage offers competitive positioning versus older stock with targeted value-add upside.
- Westside employment anchors within ~5 miles reinforce leasing demand and commute convenience.
- 3-mile forecasts indicate population and household growth, expanding the renter pool.
- Risk: Lower relative safety ranking and variable neighborhood occupancy warrant conservative underwriting and enhanced property management.