| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1430 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 |
1430 7th St Santa Monica Multifamily Investment
Positioned in Downtown Santa Monica, this 28-unit asset benefits from a deep renter base and dense amenities that support leasing durability, according to WDSuite’s CRE market data. Neighborhood metrics cited below refer to the surrounding area, not the property itself.
Located in Santa Monica’s urban core, the neighborhood ranks among the strongest in the Los Angeles metro (ranked 3 out of 1,441 neighborhoods; A+ rating). Amenity density is a clear differentiator, with restaurants, cafés, grocers, parks, and pharmacies placing in the top tier nationally — a combination that typically supports tenant retention and reduces friction during lease-up, based on commercial real estate analysis from WDSuite.
Renter housing is prevalent in the immediate area, indicating a sizable pool of renter-occupied units and reinforcing demand depth for multifamily operators. Median contract rents in the neighborhood sit at the high end for the region, and home values are elevated by national standards, which tend to sustain reliance on professionally managed rentals and support pricing power when product is well-positioned.
The property’s 1996 construction is newer than the neighborhood’s average vintage (late 1970s), offering competitive positioning versus older stock while leaving room for targeted modernization to enhance unit finishes and building systems as part of a value-add plan.
Within a 3-mile radius, demographics reflect a high-income renter base and small average household sizes, which align with demand for well-located, professionally managed apartments near jobs and transit. Forward-looking projections show growth in households and incomes in the area, a setup that can expand the tenant base and support occupancy stability over time.
Relative to the Los Angeles metro, this neighborhood scores below average on safety (crime rank 1,374 out of 1,441 neighborhoods), and its standing is in the lower range nationally (13th percentile). Recent year-over-year indicators point to increases in both property and violent offenses locally. Investors typically account for this by emphasizing on-site security practices, resident screening, and partnership with local public safety resources, and by underwriting for potentially higher operating costs tied to safety.
Proximity to major employers supports weekday population, commute convenience, and leasing stability for workforce and professional tenants. Notable nearby employers include Abbott Laboratories, Activision Blizzard, Occidental Petroleum, Microsoft, and AECOM.
- Abbott Laboratories — healthcare & life sciences (1.2 miles) — HQ
- Activision Blizzard — interactive entertainment (2.3 miles) — HQ
- Occidental Petroleum — energy (4.0 miles) — HQ
- Microsoft Offices The Reserves — technology offices (4.8 miles)
- AECOM — engineering & infrastructure (5.2 miles) — HQ
1430 7th St is a 1996-vintage, 28-unit asset positioned in a top-performing Santa Monica neighborhood where amenity density and a deep renter pool underpin durable demand. Neighborhood NOI per unit benchmarks are among the highest nationally, and elevated home values in the area create a high-cost ownership market that tends to sustain reliance on rental housing. According to CRE market data from WDSuite, neighborhood occupancy trends have lagged national levels, so competitive positioning, finish quality, and operations discipline are key to capturing demand.
Within a 3-mile radius, the area skews high income with small household sizes and a majority of renter-occupied housing units — demographics that support continued renter pool expansion in forecast periods. Given the property’s newer-than-average vintage for the neighborhood, investors may see opportunity in targeted renovations and energy/system upgrades to widen the gap versus older local stock while managing affordability pressure through lease strategy and renewals.
- Amenity-rich urban core location that supports tenant retention and leasing velocity.
- High-cost ownership market reinforces rental demand and pricing power for well-positioned units.
- 1996 construction offers competitive positioning versus older neighborhood stock with value-add upside.
- Strong nearby employment base (tech, energy, engineering) supports weekday population and retention.
- Risks: below-national neighborhood occupancy, elevated safety concerns, and affordability pressure requiring disciplined operations.