| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 91st | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 220 San Vicente Blvd, Santa Monica, CA, 90402, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1972 |
| Units | 90 |
| Transaction Date | 2015-06-10 |
| Transaction Price | $45,800,000 |
| Buyer | San Vicente Tower SPE, LLC |
| Seller | San Vicente Towers, LLC, Private Investor, San Vicente Towers, LLC, PriceCash Equivalent Price/sf |
220 San Vicente Blvd, Santa Monica Multifamily Investment
Positioned in a high-income Westside enclave with metro-leading schools and strong park access, this asset benefits from durable renter demand even as neighborhood occupancy trends vary, according to WDSuite’s CRE market data.
Santa Monica’s north-of-Montana pocket delivers lifestyle fundamentals that matter to renters: top-tier schools and access to coastal parks and open space. The neighborhood’s average school rating sits at the top among 1,441 Los Angeles metro neighborhoods and in the top quartile nationally, a differentiator that supports family-oriented leasing and renewals.
Parks per square mile rank near the very top locally and nationally, while restaurants are competitive among Los Angeles neighborhoods. Daily conveniences such as groceries and pharmacies are more distributed across the broader Westside, but the immediate area’s recreational and cultural amenities remain a leasing draw for renters prioritizing quality-of-life.
Home values are elevated relative to both metro and national benchmarks, which reinforces reliance on multifamily housing and supports pricing power where product is well-maintained and appropriately positioned. Neighborhood multifamily NOI per unit ranks in the upper tier nationally, signaling that well-executed assets can perform despite operating cost pressures.
Tenure patterns vary by geography: the immediate neighborhood shows a lower renter concentration (renter-occupied share around one-third), while demographics aggregated within a 3-mile radius indicate a much larger renter base (nearly two-thirds). For investors, that points to a deep regional tenant pool even if the immediate blocks skew more owner-occupied. Population and household projections within 3 miles point to growth through the current forecast horizon, suggesting a larger tenant base and support for occupancy stability.
Neighborhood occupancy is below national norms at present, so competitive positioning, amenity upgrades, and unit mix strategy are important to capture demand. Still, income levels rank high nationally, and restaurants, schools, and parks strengths help underpin leasing velocity for well-run assets.
Relative to the Los Angeles metro, this neighborhood’s crime rank is toward the weaker end (1,337 out of 1,441), and it sits below the national median for safety. Recent estimates also indicate a year-over-year uptick in both property and violent offenses. Investors should underwrite with conservative assumptions on security measures and operating protocols, and monitor citywide and submarket trends as they evolve.
In practice, owners in comparable Westside assets often focus on lighting, access control, and neighborhood watch coordination to support resident experience. Framing risk comparatively — below metro average and below national percentiles — keeps expectations grounded while allowing for asset-level mitigations.
Proximity to headquarters and major corporate offices across technology, energy, and engineering supports a steady professional renter base and commute convenience. Nearby employers include Abbott Laboratories, Activision Blizzard, Occidental Petroleum, AECOM, and Microsoft Offices.
- Abbott Laboratories — healthcare products (2.4 miles) — HQ
- Activision Blizzard — video games (3.4 miles) — HQ
- Occidental Petroleum — energy (4.5 miles) — HQ
- AECOM — engineering & infrastructure (5.9 miles) — HQ
- Microsoft Offices The Reserves — technology offices (6.1 miles)
220 San Vicente Blvd offers scale in a supply-constrained Westside location where high home values sustain reliance on rentals and income levels support premium positioning. Neighborhood-level performance indicators — including nationally strong per-unit NOI and metro-leading schools — point to durable renter demand, while the broader 3-mile radius shows a large, professional renter pool and projected growth in households, which can support occupancy stability and retention.
Built in 1972, the asset likely benefits from value-add and modernization opportunities that can sharpen competitive standing versus newer product. Based on CRE market data from WDSuite, neighborhood occupancy sits below national norms and recent safety readings are weaker than metro averages, so underwriting should prioritize asset-specific leasing strategy, security investments, and expense discipline to capture demand drivers tied to location fundamentals.
- Westside fundamentals: high-income area, top-ranked schools, and park access that supports leasing
- Deep renter base within 3 miles and projected household growth, aiding occupancy stability
- Elevated ownership costs reinforce multifamily demand and pricing power for well-positioned units
- 1972 vintage presents value-add potential through unit and system upgrades
- Risks: below-average neighborhood safety and softer occupancy require focused leasing and security planning