| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1522 6th St, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 2004 |
| Units | 26 |
| Transaction Date | 2024-09-10 |
| Transaction Price | $7,050,000 |
| Buyer | GC 1522 6TH LP |
| Seller | 1522 ON 6TH LLC |
1522 6th St Santa Monica Multifamily Investment
In an amenity-rich Santa Monica urban core, the neighborhood s high share of renter-occupied units and elevated ownership costs support multifamily demand, according to WDSuite s CRE market data.
Located in Santa Monica s Urban Core, the property benefits from a neighborhood rated A+ and ranked 3 out of 1,441 Los Angeles metro neighborhoods, indicating top-tier local fundamentals. Nationally, the area scores in the top percentiles for amenities, with dense access to restaurants, cafes, groceries, parks, and pharmacies. These walkable conveniences typically bolster leasing velocity and reduce turnover for well-positioned assets.
Renter demand is deep: the neighborhood s share of housing units that are renter-occupied is high (ranked 40 of 1,441 in the metro), which supports a stable tenant base for multifamily. Median home values sit in the high-cost range and value-to-income ratios are among the highest nationally, which tends to sustain renter reliance on multifamily housing and can support pricing power and lease retention for competitive assets.
The building was constructed in 2004, newer than the neighborhood s average vintage (1978). That relative youth can be an advantage versus older local stock, while investors should still plan for targeted modernization and systems updates as part of a value-add or capital planning strategy.
Demographics are aggregated within a 3-mile radius. While recent years showed modest population softness, projections indicate population growth and an increase in households alongside smaller average household sizes. For investors, this points to a larger tenant base over time and demand for professionally managed units, which can support occupancy stability and absorption.
Neighborhood occupancy is below national averages but has improved over the last five years. For operators, this suggests attention to leasing execution and amenity positioning remains important, yet the combination of high renter concentration, strong incomes, and exceptional amenity access provides a constructive backdrop.
Safety outcomes in this Urban Core location trail both national and metro leaders. The neighborhood s crime rank sits toward the higher end of the Los Angeles distribution (1,374 out of 1,441 neighborhoods), and national comparisons place the area below typical safety percentiles. Recent year-over-year indicators point to an uptick, underscoring the importance of proactive property management practices and resident engagement.
Investors should frame safety as a manageable operating consideration rather than a defining characteristic: urban convenience and employment access can offset some risk perceptions when assets emphasize secure access, lighting, and responsive onsite protocols. Monitoring citywide and neighborhood trends over time remains prudent.
Nearby headquarters and corporate offices create a strong white-collar employment base that supports renter demand and commute convenience, including Abbott Laboratories, Activision Blizzard, Occidental Petroleum, Microsoft offices, and AECOM.
- Abbott Laboratories corporate offices (1.1 miles) HQ
- Activision Blizzard corporate offices (2.2 miles) HQ
- Occidental Petroleum corporate offices (4.1 miles) HQ
- Microsoft Offices The Reserves corporate offices (4.7 miles)
- AECOM corporate offices (5.2 miles) HQ
1522 6th St offers investors a 2004-vintage, professionally managed-scale asset in Santa Monica s Urban Core, where amenity density, white-collar job access, and a high share of renter-occupied housing underpin steady multifamily demand. Neighborhood occupancy trends have improved, though they remain below national levels, making differentiated operations and leasing focus important to sustain performance. Elevated ownership costs in the area continue to reinforce renter reliance on multifamily housing.
According to commercial real estate analysis from WDSuite, the neighborhood ranks among the strongest in the Los Angeles metro for amenities and income depth, which supports long-term rental fundamentals. The 2004 construction positions the property competitively against older local stock while leaving room for targeted value-add and modernization to enhance returns.
- High renter concentration and premier amenities support resilient demand and leasing velocity.
- 2004 vintage offers competitive positioning versus older stock with value-add upgrade potential.
- Proximity to major employers bolsters tenant base depth and retention potential.
- Elevated ownership costs sustain reliance on rentals, supporting pricing power over time.
- Risks: below-national neighborhood occupancy and urban safety variability require disciplined operations and resident experience focus.