| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1432 7th St, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 2000 |
| Units | 26 |
| Transaction Date | 2024-09-10 |
| Transaction Price | $23,070,000 |
| Buyer | GC 1422-1432 7TH LP |
| Seller | 1422 ON 7TH LLC |
1432 7th St, Santa Monica Multifamily in Amenity Core
Positioned in Santa Monica's urban core, this 26-unit asset benefits from deep renter demand supported by high-cost ownership dynamics and dense amenities, according to WDSuite's CRE market data. Expect durable interest from professionals seeking walkable access to jobs and services, with operations focused on retention and steady lease-up.
The property sits in an Urban Core pocket that ranks among the strongest amenity clusters in the Los Angeles-Long Beach-Glendale metro. Amenity access is top among 1,441 metro neighborhoods and top quartile nationally, with dense coverage of restaurants, groceries, parks, pharmacies, and cafes supporting daily convenience and walk-to-work lifestyles. This concentration typically aids leasing velocity and reduces friction in resident attraction.
Renter-occupied housing is the dominant tenure in the immediate neighborhood (very high renter concentration), indicating a deep tenant base and consistent multifamily demand. Neighborhood occupancy has trended upward over the past five years, though it sits below national strength levels, suggesting operators should emphasize renewals, targeted marketing, and competitive unit finishes to sustain occupancy stability.
Within a 3-mile radius, demographics show a high-income professional base and smaller average household sizes, with forecast increases in households and population that point to renter pool expansion. Even as household sizes trend smaller, the resulting rise in household counts supports ongoing demand for well-located apartments near employment and services.
Ownership costs in this submarket are elevated relative to incomes, reinforcing reliance on multifamily rentals and supporting pricing power. At the same time, neighborhood rent-to-income levels indicate some affordability pressure, which calls for disciplined lease management and value-add that prioritizes rentable features over costly amenities that do not translate into absorption.
Built in 2000, the asset is newer than much of the neighborhood's housing stock (average vintage late 1970s), offering relative competitiveness versus older buildings. Investors should still account for modernization of systems and common areas to maintain an edge amid premium Class B/B+ peer competition.
Safety metrics for the immediate neighborhood trend weaker than many Los Angeles metro peers, with crime ranking near the higher end among 1,441 metro neighborhoods and low national safety percentiles. For investors, this typically means implementing visible property management, lighting and access controls, and resident engagement to support retention and day-to-day experience.
Trend awareness matters: periodic fluctuations can occur, but operators that budget for security-forward maintenance and partner with local resources generally mitigate risk while sustaining leasing performance relative to nearby options.
The nearby employment base includes corporate headquarters and major offices that draw a steady professional renter cohort, supporting lease-up and renewal prospects. Key nodes include Abbott Laboratories, Activision Blizzard, Occidental Petroleum, Microsoft Offices, and AECOM.
- Abbott Laboratories - corporate offices (1.2 miles) - HQ
- Activision Blizzard - corporate offices (2.3 miles) - HQ
- Occidental Petroleum - corporate offices (4.0 miles) - HQ
- Microsoft Offices The Reserves - corporate offices (4.8 miles)
- AECOM - corporate offices (5.1 miles) - HQ
This 26-unit, 2000-vintage asset in Santa Monica's amenity-dense core is positioned for steady renter demand supported by a very high renter concentration and a high-cost ownership environment. Based on CRE market data from WDSuite, neighborhood occupancy has improved over the past five years, while the 3-mile radius points to growing household counts and a professional income base — all factors that support retention and leasing resilience when paired with disciplined operations.
Relative to older submarket stock, the vintage offers competitive positioning, with targeted modernization likely to enhance rentability. Investors should balance pricing power from location fundamentals with prudent lease management given affordability pressure and safety considerations common to dense urban nodes.
- Amenity-rich Urban Core location supports durable renter demand and leasing velocity.
- High renter concentration and professional employment base deepen the tenant pool.
- 2000 vintage provides competitive edge versus older stock; targeted upgrades can lift rentability.
- Household growth within 3 miles underpins occupancy stability and renewal prospects.
- Risks: affordability pressure and weaker safety metrics require attentive operations and budgeting.