| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 89th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1445 21st St, Santa Monica, CA, 90404, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1979 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1445 21st St Santa Monica Multifamily Opportunity
Positioned in an Urban Core pocket of Santa Monica with a deep renter base and high-cost ownership market, this asset benefits from durable demand and balanced pricing power, according to WDSuite’s CRE market data.
This Santa Monica address sits in an A+ rated neighborhood that ranks 10th among 1,441 Los Angeles metro neighborhoods, placing it firmly in the top quartile locally. Amenity access is a clear strength: restaurant, cafe, grocery, and pharmacy densities all land in the top quartile nationally, with restaurants and cafes near the 99th percentile and pharmacies at the 100th percentile. That convenience profile supports renter retention and lease-up velocity for well-managed multifamily.
Neighborhood housing fundamentals are attractive for investors. The share of renter-occupied units is high (about seven in ten), in the 97th national percentile, indicating a deep tenant pool and steady multifamily demand. Median contract rent levels track in the upper national percentiles, while the rent-to-income ratio sits near the lower national percentiles, a combination that suggests relatively manageable rent burdens for the local income base and supports renewal potential.
Local livability and schools add to long-term positioning. Average school ratings are above the national median (around the 73rd percentile), which can aid family retention. Median home values are elevated (upper-90s national percentile), creating a high-cost ownership market that tends to sustain reliance on rental housing and supports occupancy stability. Average household size is small and ranks in the top national percentiles for compact households, aligning with demand for efficient floorplans and studios/one-bed units.
From a comparative performance lens, neighborhood NOI per unit trends sit in the upper national percentiles, reinforcing income potential for well-operated assets. The property’s 1979 vintage is slightly older than the area’s average construction year (early 1980s), which points to potential value-add via interior modernization and systems upgrades to stay competitive against newer stock.
Demographic statistics aggregated within a 3-mile radius show a small recent dip in population but a projected increase over the next five years alongside growth in households and higher median incomes. A gradual decrease in average household size indicates more, smaller households entering the market—supporting a larger tenant base for multifamily and helping sustain occupancy over time.
Safety indicators are mixed and should be monitored. Overall crime sits around the national median by percentile, with the neighborhood’s rank measured against 1,441 Los Angeles metro neighborhoods placing it below the top tier but competitive for an Urban Core location. Importantly, both violent and property offense rates show meaningful year-over-year improvement, landing in higher percentiles for improvement nationally, which signals a constructive directional trend rather than a guarantee.
For underwriting, the practical takeaway is to incorporate prudent security measures and weigh recent improving trends alongside the broader Urban Core context. Comparative and trend-based assessment, rather than block-level conclusions, is most appropriate for this location.
Nearby corporate anchors span gaming, healthcare products, energy, engineering, and technology offices—supporting a diverse professional renter base and commute convenience that can aid leasing stability. The list below reflects key employers within a short drive.
- Activision Blizzard — gaming (1.6 miles) — HQ
- Abbott Laboratories — healthcare products (2.0 miles) — HQ
- Occidental Petroleum — energy (2.9 miles) — HQ
- AECOM — engineering (4.0 miles) — HQ
- Microsoft Offices The Reserves — technology offices (4.7 miles)
1445 21st St is a 1979-vintage, 100-unit asset positioned in a top-ranked Urban Core neighborhood of Santa Monica where amenity density and a high renter-occupied share support depth of demand. Elevated home values at the neighborhood level reinforce renter reliance on multifamily housing, while rent burdens trend comparatively manageable for local incomes—factors that can support renewal rates and occupancy. Based on CRE market data from WDSuite, neighborhood NOI per unit trends are strong relative to national benchmarks, and amenity access sits in the top quartile nationally, both constructive for long-term leasing performance.
Demographic statistics aggregated within a 3-mile radius point to a projected increase in population and households alongside rising incomes, expanding the prospective tenant base over the medium term. Given its slightly older vintage versus local averages, this property presents potential value-add through interior upgrades and building systems modernization to sharpen competitive positioning and drive incremental rent premiums while managing capital plans thoughtfully.
- High renter-occupied share and elevated ownership costs support a deep, durable tenant pool
- Top-quartile amenity access and strong neighborhood NOI per unit underpin leasing strength
- 3-mile forecasts show population and household growth, expanding the renter base
- 1979 vintage offers value-add potential through targeted renovations and systems upgrades
- Risk: Urban Core safety metrics sit around the national median with variability; prudent security and underwriting assumptions are advisable