| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 85th | Best |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1873 10th St, Santa Monica, CA, 90404, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1999 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1873 10th St, Santa Monica Multifamily Investment
Positioned in a high-income, renter-heavy pocket of Santa Monica, the property benefits from durable multifamily demand and a high-cost ownership market, according to WDSuite’s CRE market data. Newer vintage for the area supports competitive positioning while proximity to daily amenities and major employers underpins leasing stability.
The neighborhood scores well within the Los Angeles-Long Beach-Glendale metro, with an overall neighborhood rank that is competitive among 1,441 metro neighborhoods. Daily needs are well covered: grocery access and restaurants trend in the top quartile nationally, and parks and pharmacies also sit in higher national percentiles, reinforcing convenience that supports renter retention.
Schools in the area average roughly 4 out of 5, which is above many urban cores and can help broaden the tenant base. Median contract rents in the neighborhood are elevated relative to the nation, yet the median rent-to-income ratio indicates manageable affordability pressure for local households — a dynamic that can aid lease renewal. Ownership costs remain high compared with incomes, a common pattern in Santa Monica, which tends to sustain reliance on multifamily housing.
Renter-occupied housing comprises a large share of neighborhood units, signaling a deep tenant pool and ongoing demand for professionally managed apartments. Neighborhood occupancy is near national midrange, suggesting stable but competitive leasing conditions; operators who focus on service quality and unit differentiation typically see steadier performance in similar settings.
Construction in the immediate area skews older on average, while the subject’s 1999 vintage is newer than much of the surrounding stock. That positioning can offer a competitive edge versus mid-century assets, though investors should still plan for modernization of finishes and aging systems as part of a value-add or capital maintenance strategy. Demographic statistics aggregated within a 3-mile radius point to a high-income consumer base today and a projected increase in households alongside smaller household sizes over the next five years, which generally supports renter pool expansion and occupancy stability.
Safety conditions should be evaluated with care. The neighborhood’s crime rank is toward the higher end of the spectrum (closer to the bottom) among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, and national comparisons place it below typical U.S. safety percentiles. Recent year-over-year estimates indicate increases in both property and violent offenses. For investors, this argues for prudent security measures, lighting, and resident engagement to support retention and operational stability.
As always, crime varies block to block and over time. Underwriting should incorporate current local reports and on-site observations, with operating plans calibrated to the immediate surroundings rather than relying solely on broad neighborhood averages.
Proximity to major corporate employers supports a steady renter base and convenient commutes, notably in healthcare, gaming, energy, technology, and engineering. These demand drivers can contribute to leasing depth and resident retention at workforce and professional price points.
- Abbott Laboratories — healthcare & medical devices (0.9 miles) — HQ
- Activision Blizzard — gaming & entertainment (1.7 miles) — HQ
- Occidental Petroleum — energy (3.8 miles) — HQ
- Microsoft Offices The Reserves — technology offices (4.1 miles)
- AECOM — engineering & infrastructure (4.8 miles) — HQ
1873 10th St offers 22 units with larger-than-typical floorplans for the market, supporting family and roommate demand segments. Built in 1999, the property is newer than much of the surrounding neighborhood stock, providing relative competitiveness versus older assets while still leaving room for targeted renovations and systems updates to drive rent positioning. According to commercial real estate analysis from WDSuite, the neighborhood combines a high renter concentration with strong household incomes and elevated ownership costs, trends that typically reinforce multifamily demand and lease renewal potential.
Within a 3-mile radius, current demographics reflect a high-earning renter base and forecasted growth in households alongside smaller household sizes over the next five years. This points to a larger tenant base and supports occupancy stability. Neighborhood occupancy trends sit near the national midrange, implying that execution on amenities, security, and resident experience will be important to sustain pricing power relative to the broader Los Angeles metro.
- Newer 1999 vintage versus older local stock, with value-add potential via modernization
- Larger average unit sizes support family and roommate demand segments
- High renter concentration and elevated ownership costs bolster multifamily demand
- 3-mile outlook shows household growth and smaller household sizes, aiding leasing depth
- Risks: below-average safety metrics and midrange occupancy require active management and security planning