| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 90th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2423 S Centinela Ave, Santa Monica, CA, 90405, US |
| Region / Metro | Santa Monica |
| Year of Construction | 2008 |
| Units | 36 |
| Transaction Date | 2000-02-01 |
| Transaction Price | $450,000 |
| Buyer | COMMUNITY CORP OF SANTA MONICA |
| Seller | FELDMAN JAN |
2423 S Centinela Ave Santa Monica Multifamily Investment
This 36-unit property built in 2008 sits in a top-quartile Santa Monica neighborhood with A+ rating among 1,441 metro neighborhoods. Commercial real estate analysis shows median rents of $2,499 and strong demographic fundamentals supporting rental demand.
This Santa Monica property occupies an A+-rated neighborhood ranking 28th among 1,441 Los Angeles metro neighborhoods. The area demonstrates strong fundamentals with median household income of $133,480 and 90th national percentile demographics. Within a 3-mile radius, residents show high educational attainment with 40.9% holding bachelor's degrees, ranking in the 97th percentile nationally.
The neighborhood features exceptional amenity density with top-quartile access to cafes, childcare, grocery stores, and restaurants. School ratings average 5.0 out of 5, ranking first nationally. These amenities support tenant retention in a market where 43.6% of housing units are renter-occupied, well above the regional average and indicating sustained rental demand.
Built in 2008, this property represents newer construction compared to the neighborhood average of 1968, potentially reducing near-term capital expenditure needs. Current median rents of $2,499 reflect strong pricing power, though rent-to-income ratios indicate affordability pressure that requires careful lease management. Occupancy rates of 90.9% remain competitive, though slightly below metro averages.
Demographic projections within the 3-mile radius show household growth of 37.7% through 2028, with median income forecast to reach $154,380. This expansion of the renter pool, combined with elevated home values averaging $1.9 million, reinforces reliance on rental housing and supports long-term tenant demand stability.
Safety metrics show mixed trends requiring investor consideration. Property crime rates rank 1,331st among 1,441 metro neighborhoods with a 7th national percentile, indicating elevated property crime compared to most neighborhoods nationwide. Violent crime rates similarly rank in the bottom quartile locally at 1,244th position with 16th national percentile.
Recent crime trends show property offenses increased 68.6% year-over-year, while violent crimes rose 22.7%. These increases exceed regional averages and may influence tenant retention and insurance costs. Investors should factor security considerations into property management planning and evaluate impact on lease-up velocity in this otherwise high-demand Santa Monica submarket.
The property benefits from proximity to major corporate employers supporting professional workforce housing demand, including entertainment, technology, and energy headquarters within the greater Santa Monica area.
- Activision Blizzard — gaming & entertainment (0.5 miles) — HQ
- Occidental Petroleum — energy (2.3 miles) — HQ
- Abbott Laboratories — healthcare & life sciences (2.6 miles) — HQ
- AECOM — engineering & construction (3.0 miles) — HQ
- Microsoft Offices — technology (3.8 miles)
This Santa Monica property offers exposure to one of Los Angeles' strongest rental markets, with A+-rated neighborhood fundamentals and proximity to major corporate employers. The 2008 construction vintage provides a competitive advantage over the area's 1968 average building stock, potentially reducing capital expenditure needs while maintaining modern appeal. According to CRE market data from WDSuite, the neighborhood ranks in the top 2% locally with exceptional school ratings and amenity access supporting tenant retention.
Demographic projections show household growth of 37.7% through 2028 within a 3-mile radius, expanding the renter pool in a market where elevated home values of $1.9 million reinforce rental demand. Current median rents of $2,499 demonstrate strong pricing power, though affordability pressures and mixed safety metrics require active management consideration.
- Top-quartile neighborhood ranking with A+ rating among 1,441 metro areas
- Proximity to major employers including Activision Blizzard headquarters
- 37.7% projected household growth supporting rental demand expansion
- Newer 2008 construction compared to 1968 neighborhood average
- Elevated crime rates and affordability pressure require active management oversight