| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 92nd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1540 6th St, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 2003 |
| Units | 48 |
| Transaction Date | 2009-09-10 |
| Transaction Price | $8,000,000 |
| Buyer | PR SM LIVORNO LLC |
| Seller | JSM LIVORNO LLC |
1540 6th St Santa Monica Multifamily Investment
Urban Core positioning with a deep renter base and top-tier amenities supports durable leasing, according to WDSuite’s CRE market data. Neighborhood occupancy has trended upward in recent years, while elevated ownership costs in Santa Monica reinforce reliance on multifamily housing.
Located in Santa Monica’s Urban Core, the property benefits from a rare concentration of daily amenities. The neighborhood ranks 1st out of 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods for overall amenities and sits in the top quartile nationally, with dense coverage of grocery, cafes, pharmacies, parks, and restaurants. This walkable convenience underpins renter appeal and helps support leasing velocity and retention.
Renter concentration is high, with roughly 83% of housing units renter-occupied at the neighborhood level, indicating a deep tenant base and consistent multifamily demand. Neighborhood occupancy has increased over the past five years, supporting a case for operational stability even as leasing strategy remains important in a competitive urban market.
The property’s 2003 vintage is newer than the neighborhood’s average construction year of 1978, offering a competitive edge versus older stock. Investors should still plan for periodic modernization and systems upkeep to maintain positioning among newer deliveries across Westside LA.
Within a 3-mile radius, incomes are high and the rental market is priced accordingly, while home values are elevated relative to most U.S. neighborhoods. This high-cost ownership environment tends to sustain rental demand and can support pricing power, though lease management should account for affordability pressure on some cohorts.
Three-mile demographics point to a stable-to-growing renter pool over the next five years: forecasts indicate population growth alongside a notable increase in households and a smaller average household size. For multifamily, that combination typically expands the addressable tenant base and supports occupancy and renewal rates over time.
Safety trends should be evaluated as part of underwriting. The neighborhood’s crime indicators are weaker than many areas nationally and rank toward the lower end among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, signaling comparatively higher reported incidents. Recent year-over-year estimates also point to increases in both property and violent offenses. Investors often respond with enhanced site security, lighting, and access control to support tenant comfort and retention.
As with any Urban Core location, trends can vary by micro-area and over time. Monitoring updated police reports and insurer guidance, and benchmarking against nearby Los Angeles submarkets, can help calibrate operating practices without overreliance on any single-year reading.
Proximity to major employers anchors demand from professionals seeking short commutes, supporting leasing depth and renewal potential. Nearby corporate hubs include Abbott Laboratories, Activision Blizzard, Occidental Petroleum, Microsoft offices, and AECOM.
- Abbott Laboratories — healthcare & devices (1.0 miles) — HQ
- Activision Blizzard — interactive entertainment (2.2 miles) — HQ
- Occidental Petroleum — energy corporate offices (4.1 miles) — HQ
- Microsoft Offices The Reserves — technology offices (4.6 miles)
- AECOM — engineering & infrastructure (5.2 miles) — HQ
1540 6th St sits in a top-performing amenity node of Santa Monica, where high renter concentration and a dense services ecosystem support durable multifamily demand. Based on CRE market data from WDSuite, the neighborhood exhibits elevated rents and high-cost homeownership, factors that tend to sustain reliance on rentals and underpin pricing power, while neighborhood occupancy has improved over the past five years. The 2003 vintage is newer than much of the surrounding stock, offering competitive positioning with scope for targeted upgrades to maintain market relevance.
Within a 3-mile radius, forecasts point to population growth, a meaningful increase in households, and smaller average household sizes—conditions that generally expand the renter pool and support leasing stability. At the same time, investor attention to affordability (given rent-to-income dynamics), crime trends, and day-to-day asset management will be important for retention and operating performance.
- Urban Core location with top-ranked amenities among 1,441 metro neighborhoods, reinforcing renter appeal
- High renter-occupied share signals a deep tenant base and demand resilience
- 2003 construction offers competitive positioning versus older neighborhood stock with selective value-add potential
- 3-mile outlook shows household growth and smaller household sizes, supporting occupancy and renewals
- Risks: comparatively higher reported crime and affordability pressure require active security and lease management