| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1448 5th St, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 2001 |
| Units | 101 |
| Transaction Date | 1997-08-07 |
| Transaction Price | $1,925,000 |
| Buyer | VALLEYHEART 3 LP |
| Seller | SAM LILY J DECD EST OF |
1448 5th St Santa Monica Core Multifamily Investment
Positioned in Santa Monica’s urban core, the asset benefits from a very high renter concentration and exceptional amenity density, supporting durable leasing fundamentals according to WDSuite’s CRE market data.
This location sits in an Urban Core neighborhood with an A+ rating and ranks 3rd among 1,441 Los Angeles metro neighborhoods, indicating standout fundamentals relative to the region. Amenity access is a clear differentiator: restaurants, groceries, parks, pharmacies, cafes, and childcare facilities score at or near the top nationally, translating into daily convenience and strong appeal for renters.
Renter-occupied share is very high across the neighborhood, which signals a deep tenant base for multifamily operators and supports ongoing leasing velocity. In contrast, the neighborhood’s occupancy level is below national norms, so underwriting should emphasize tenant retention and marketing execution even in this demand-rich setting. Median home values are elevated for the area, which typically reinforces reliance on multifamily housing and supports pricing power when operations are well-managed.
Within a 3-mile radius, demographics show high household incomes and a sizable professional workforce, with forecasts pointing to growth in households and smaller average household sizes over the next five years. That combination generally expands the renter pool and supports occupancy stability and rent performance when paired with the submarket’s top-tier amenity access, based on CRE market data from WDSuite.
The asset’s 2001 construction is newer than the neighborhood’s average vintage. That positioning can be competitively advantageous versus older stock while still warranting targeted capital planning for systems modernization or value-add finishes to meet current renter expectations.
Safety indicators for this neighborhood track below national averages, with property and violent offense measures landing in low national percentiles and ranks that place the area among less safe clusters in the Los Angeles metro (out of 1,441 neighborhoods). Year-over-year estimates indicate increases in reported offense rates, so investors should incorporate prudent assumptions for security measures, lighting, and access controls, and monitor block-level trends as part of underwriting.
As with any Urban Core location, conditions can vary block to block and over time. Comparative framing and on-the-ground diligence will help align operating plans and resident experience with market realities.
Proximity to major employers anchors renter demand in this submarket, offering short commutes for professionals across healthcare products, interactive entertainment, energy, software, and engineering. Nearby employment nodes include the following organizations:
- Abbott Laboratories — healthcare products (1.1 miles) — HQ
- Activision Blizzard — interactive entertainment (2.35 miles) — HQ
- Occidental Petroleum — energy (4.13 miles) — HQ
- Microsoft Offices The Reserves — software offices (4.74 miles)
- AECOM — engineering & infrastructure (5.29 miles) — HQ
1448 5th St offers core-location exposure in Santa Monica with exceptional amenity access and a renter-driven neighborhood. Elevated ownership costs in the area tend to sustain reliance on multifamily housing, while the property’s 2001 vintage positions it competitively versus older stock, with potential upside from targeted renovations and systems updates. According to CRE market data from WDSuite, the neighborhood ranks among the metro’s top performers on overall fundamentals, even as occupancy levels sit below national norms—an execution detail that places a premium on tenant retention and leasing strategy.
Within a 3-mile radius, high incomes and forecasts for household growth alongside smaller household sizes point to a larger tenant base and support for rent performance over the medium term. Strong nearby employer presence further underpins demand, helping stabilize leasing through economic cycles when operations and security measures are well-managed.
- Core Santa Monica location with top-tier amenity density that supports renter appeal
- High-cost ownership market reinforces demand for multifamily and pricing power
- 2001 vintage offers competitive positioning with value-add and systems modernization potential
- Nearby corporate presence (healthcare, gaming, energy, software, engineering) supports leasing stability
- Risk: Neighborhood safety metrics and below-national occupancy levels require strong retention and security planning