| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1530 7th St, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 2001 |
| Units | 48 |
| Transaction Date | 2009-09-10 |
| Transaction Price | $7,000,000 |
| Buyer | PR SM SAN REMO LLC |
| Seller | JSM SAN REMO LLC |
1530 7th St, Santa Monica Multifamily Investment
Positioned in Santa Monica’s Urban Core, this 48-unit asset benefits from deep renter demand and top-tier amenities, according to WDSuite’s CRE market data, supporting long-term leasing potential despite competitive supply dynamics.
Location fundamentals. The property sits in an A+ Urban Core neighborhood ranked 3rd out of 1,441 Los Angeles metro neighborhoods, signaling exceptional local fundamentals for multifamily investors. Amenity density is among the strongest nationally, with abundant restaurants, groceries, parks, pharmacies, and cafes supporting daily convenience and lifestyle appeal—key drivers of tenant retention and lease-up velocity.
Renter depth and demand. The neighborhood shows a very high share of housing units that are renter-occupied (top national percentile), indicating a deep tenant base and durable demand for professionally managed apartments. At the same time, the neighborhood occupancy rate trails national benchmarks, though it has improved over the last five years, suggesting investors should prioritize proactive leasing and renewal strategies to sustain performance.
Demographics within 3 miles. Data aggregated within a 3-mile radius points to high household incomes and a sizable professional renter pool. Forecasts indicate an increase in households by 2028 alongside smaller average household sizes—factors that typically expand the renter pool and support occupancy stability. Median contract rents are projected to rise, reinforcing the need for disciplined pricing and credit screening as part of standard multifamily property research.
Asset positioning. Built in 2001, the property is newer than the neighborhood’s average vintage. This typically enhances competitive positioning versus older stock, while still warranting capital planning for system updates and targeted renovations to capture modern renter preferences and sustain rent premiums.
Safety indicators for the immediate neighborhood are weaker than broader metro and national averages. Based on ranks measured against 1,441 Los Angeles metro neighborhoods and national percentiles, the area trends toward the lower end of comparative safety. Investors should underwrite with realistic security, lighting, and access-control plans and consider resident experience measures to support retention.
Contextually, nearby amenity density and active streets can support natural surveillance, but underwriting should assume ongoing security line items and coordination with property management. Use comparative trend data to benchmark incident rates against peer submarkets rather than relying on block-level assumptions.
Proximity to major corporate offices underpins steady renter demand and commute convenience for professionals. The employers below represent nearby anchors that can support leasing velocity and retention.
- Abbott Laboratories — healthcare & diagnostics (1.1 miles) — HQ
- Activision Blizzard — interactive entertainment (2.2 miles) — HQ
- Occidental Petroleum — energy corporate offices (4.0 miles) — HQ
- Microsoft Offices The Reserves — technology offices (4.6 miles)
- AECOM — engineering & infrastructure (5.1 miles) — HQ
This Santa Monica asset combines Urban Core fundamentals with strong amenity access and a deep renter base. Elevated home values in the surrounding area reinforce reliance on multifamily housing, supporting pricing power for well-managed properties. According to CRE market data from WDSuite, the neighborhood ranks near the top of the Los Angeles metro on overall fundamentals, while local occupancy trends call for active leasing management. The 2001 vintage offers competitive positioning versus older area stock, with targeted modernization and systems planning creating potential value-add pathways.
Within a 3-mile radius, forecasts point to an increase in households and smaller average household sizes by 2028, implying a larger tenant base and sustained demand for professionally managed units. Investors should balance these strengths against affordability pressure (rent-to-income ratios) and neighborhood safety considerations by building in prudent reserves and renewal strategies.
- A+ Urban Core location with top-ranked amenities and deep renter concentration
- Newer 2001 vintage relative to area stock, with value-add potential through selective renovations
- High-cost ownership market supports multifamily demand and pricing power
- 3-mile outlook shows household growth and smaller household sizes, expanding the renter pool
- Risks: below-average neighborhood safety and occupancy variability require active leasing and security planning