| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 78th | Best |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2021 Ocean Ave, Santa Monica, CA, 90405, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1973 |
| Units | 78 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2021 Ocean Ave, Santa Monica CA Multifamily Investment
Renter demand is reinforced by a high-cost ownership market and dense coastal amenities, according to WDSuite’s CRE market data, positioning this 78-unit asset for steady leasing in an Urban Core pocket of Santa Monica.
Santa Monica’s Urban Core setting offers deep lifestyle amenities and a durable renter base that supports multifamily performance. Cafes and restaurants are abundant (both in the 99th percentile nationally), and parks rank among the strongest in the metro (ranked 14 among 1,441 Los Angeles neighborhoods, top tier nationally). These dynamics typically translate to sustained foot traffic and convenience advantages for resident retention.
Renter concentration is high at the neighborhood level, with 73.6% of housing units renter-occupied (98th percentile nationally). For investors, that indicates depth of the tenant pool and supports absorption across unit types, even as the neighborhood occupancy rate sits around the national middle of the pack and has softened modestly over five years. Median asking rents in the neighborhood are elevated (96th percentile nationally), consistent with the area’s positioning and service/amenity density.
Within a 3-mile radius, demographics show a modest population dip in recent years but a projected increase by 2028 alongside a sizable rise in household counts. Smaller average household sizes and rising median incomes point to a growing pool of higher-earning renters, which can support occupancy stability and premium unit finishes. This trend, based on CRE market data from WDSuite, underscores demand resilience for well-located multifamily.
Home values rank in the 99th percentile nationally and the neighborhood is in the top echelon of Los Angeles for value-to-income ratios. In investor terms, the high-cost ownership landscape tends to reinforce reliance on rental housing, aiding pricing power and lease retention. School ratings are below national averages, which can temper appeal for family renters but has less impact on demand from singles and roommate households prevalent in amenity-rich urban locations.
Safety indicators are below both metro and national benchmarks for this neighborhood. The area ranks 1,357 out of 1,441 Los Angeles neighborhoods on crime and sits in lower national percentiles for safety, indicating comparatively higher reported offense levels. Year-over-year estimates also indicate recent increases in both property and violent offenses. Investors typically account for this with prudent security measures, stronger access control, and appropriate insurance and operating protocols.
As always, safety conditions vary block to block and change over time. Positioning, on-site management practices, and building design can mitigate risk and support resident retention even where broader neighborhood statistics trend below average.
Proximity to established corporate employers supports a steady professional renter base and commute convenience. Key nearby nodes include Abbott Laboratories, Activision Blizzard, Microsoft offices, Occidental Petroleum, and AECOM.
- Abbott Laboratories — healthcare products (0.4 miles) — HQ
- Activision Blizzard — interactive entertainment (2.32 miles) — HQ
- Microsoft Offices The Reserves — technology offices (4.18 miles)
- Occidental Petroleum — energy (4.52 miles) — HQ
- AECOM — engineering & infrastructure (5.53 miles) — HQ
2021 Ocean Ave is a 78-unit 1973-vintage asset in an Urban Core location where high renter concentration and elevated ownership costs support multifamily demand. The property’s vintage is newer than the neighborhood’s average construction year, suggesting competitive positioning versus older stock; targeted modernization of systems and interiors can unlock value-add upside and support rent premiums. According to CRE market data from WDSuite, neighborhood rents skew high while occupancy sits near national mid-range, indicating pricing strength tempered by normal leasing friction.
Within a 3-mile radius, forecasts point to population growth and a sizable increase in household counts alongside rising incomes, which can expand the renter pool and support occupancy stability. Dense food, café, and park amenities rank near the top of the Los Angeles metro, aiding retention and marketing. Counterpoints include below-average school ratings, lower safety percentiles, and affordability pressure (rent-to-income metrics), which call for focused lease management and resident experience strategies.
- High renter-occupied share and elevated ownership costs reinforce depth of tenant demand
- 1973 vintage offers value-add potential; competitive versus older neighborhood stock
- Amenity density (food, cafes, parks) supports retention and marketing
- Forecast household growth within 3 miles expands the renter pool and supports occupancy
- Risks: below-average safety and school ratings, plus affordability pressure requiring proactive lease management