| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 81st | Best |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2006 27th St, Santa Monica, CA, 90404, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2006 27th St Santa Monica Multifamily Investment
High renter concentration and a high-cost ownership market in Santa Monica point to durable apartment demand, according to CRE market data from WDSuite. For investors, this translates to a deep tenant base that can support occupancy and pricing over the cycle.
Situated in Santa Monica an Urban Core location within the Los Angeles-Long Beach-Glendale metro the neighborhood is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 221 of 1,441) and carries an A- neighborhood rating. For multifamily investors, this indicates a well-established submarket with consistent renter interest and institutional-grade comparables.
Livability drivers are strong: restaurants and groceries are plentiful (both in high national percentiles), parks are accessible, and average school ratings are solid (around 4 out of 5, top quartile nationally). Childcare density is especially notable, supporting family-oriented renter households. These features help sustain leasing velocity and retention.
The share of housing units that are renter-occupied is high at the neighborhood level, signaling a deep multifamily tenant base and supporting demand stability even as macro cycles shift. Elevated home values relative to incomes (top national percentiles) create a high-cost ownership market that tends to reinforce reliance on rental housing, which can aid pricing power and reduce move-outs to ownership.
Within a 3-mile radius, demographics show a well-heeled renter pool with rising incomes and a projected increase in households over the next five years, expanding the addressable tenant base. Neighborhood occupancy sits around the low 90s, and while it has fluctuated in recent years, the combination of renter concentration and income growth supports a constructive outlook for stabilized operations.
Vintage context: the property was built in 1974, newer than the neighborhood s average construction year of 1964. This positioning generally improves competitive standing versus older stock, while still leaving room for targeted modernization or systems upgrades to capture value-add upside and support rent premiums.
Safety indicators for the neighborhood trend below national averages, with national percentiles indicating comparatively higher reported crime than many neighborhoods nationwide. Relative to the Los Angeles-Long Beach-Glendale metro, the neighborhood s crime ranking is in the lower-performing cohort among 1,441 neighborhoods. Investors typically account for this by underwriting enhanced security measures, lighting, and property management practices to support tenant retention and asset performance.
Recent year-over-year changes suggest variability in reported incidents. For underwriting, consider security budgets, visibility improvements, and resident communication as part of the operational plan, and compare trends against nearby competitive assets rather than block-level assumptions.
The immediate employment base spans gaming, healthcare, energy, engineering, and technology a mix that supports workforce housing demand and convenient commutes for renters.
- Activision Blizzard gaming & media (0.8 miles) HQ
- Abbott Laboratories healthcare (2.0 miles) HQ
- Occidental Petroleum energy (2.6 miles) HQ
- AECOM engineering & infrastructure (3.6 miles) HQ
- Microsoft Offices The Reserves technology offices (4.1 miles)
This 24-unit asset at 2006 27th St benefits from a high renter-occupied housing share in a supply-constrained, high-cost ownership market. Based on CRE market data from WDSuite, neighborhood occupancy is in the low 90s and supported by a deep, income-strong renter pool. The asset s 1974 vintage is newer than the local average, offering competitive positioning versus older stock while presenting targeted value-add potential through modernization and common-area or systems upgrades.
Within a 3-mile radius, rising incomes and a projected increase in households point to renter pool expansion that can support leasing stability and rent growth over the medium term. Elevated home values relative to incomes tend to sustain rental demand and reduce move-outs to ownership, though rent-to-income levels warrant careful lease management to mitigate affordability pressure.
- Deep renter base and high-cost ownership market support demand and pricing power
- Low-90s neighborhood occupancy with income growth supports stabilized operations
- 1974 vintage newer than area average, with value-add upside via targeted upgrades
- Proximity to major employers (gaming, healthcare, energy, engineering, tech) aids retention
- Risks: lower safety percentiles and renter affordability pressure call for prudent underwriting