| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 91st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2807 Lincoln Blvd, Santa Monica, CA, 90405, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1998 |
| Units | 40 |
| Transaction Date | 1997-09-29 |
| Transaction Price | $842,000 |
| Buyer | SANTA MONICA VOA ELDERLY HOUSING INC |
| Seller | SANTA MONICA CITY |
2807 Lincoln Blvd Santa Monica Multifamily Investment
This 40-unit property benefits from Santa Monica's strong rental demand and premium neighborhood dynamics, with occupancy rates reflecting solid tenant retention according to CRE market data from WDSuite.
This Santa Monica neighborhood ranks in the top quartile nationally for amenities and demographics, positioning it among the most desirable locations within the 1,441 neighborhoods across the Los Angeles metro. The area's median household income of $136,000 and 46% bachelor's degree attainment rate reflect an educated, high-earning tenant base that supports premium rental pricing and occupancy stability.
Built in 1998, this property is significantly newer than the neighborhood's 1961 average construction year, providing a competitive advantage in maintenance costs and tenant appeal. Demographic data aggregated within a 3-mile radius shows a substantial renter population at 68.5% of housing units, with median contract rents of $2,431 reflecting strong pricing power in this coastal market.
The neighborhood demonstrates exceptional walkability with high-density amenities including 5.1 cafes per square mile (99th percentile nationally) and 10.2 restaurants per square mile (91st percentile nationally). This amenity concentration supports tenant retention and justifies premium rents. Current neighborhood-level occupancy of 94.7% indicates stable demand, though investors should monitor the slight five-year decline in occupancy trends when evaluating renewal strategies.
Population projections within the 3-mile radius forecast 6.8% growth through 2028, translating to approximately 12,500 additional residents and a 37% increase in households. This demographic expansion, combined with the area's 67% rental tenure rate, suggests continued demand for quality rental housing in this established Santa Monica location.
Safety metrics for this neighborhood present a mixed profile that requires investor consideration. The area ranks 1,142nd out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the lower half for regional safety performance. Property crime rates of 912 incidents per 100,000 residents and violent crime rates of 109 per 100,000 residents both rank below metro averages.
While crime statistics indicate areas for improvement, the neighborhood's 34th percentile national ranking for crime suggests performance that is competitive with urban core locations nationwide. Recent trends show property crime increased 5% and violent crime rose 2.5% year-over-year, indicating the importance of security considerations in property management and tenant screening. Investors should factor security measures and insurance costs into their underwriting while recognizing that Santa Monica's desirable location and amenities continue to attract quality tenants despite these safety considerations.
The property benefits from proximity to major corporate employers that provide a stable employment base for potential tenants, with several Fortune 500 headquarters within commuting distance.
- Abbott Laboratories — healthcare and pharmaceuticals (0.7 miles) — HQ
- Activision Blizzard — gaming and entertainment (1.6 miles) — HQ
- Microsoft Offices The Reserves — technology (3.4 miles)
- Occidental Petroleum — energy and oil (4.1 miles) — HQ
- AECOM — engineering and construction services (4.9 miles) — HQ
This Santa Monica property offers compelling fundamentals anchored by exceptional neighborhood demographics and amenity density. The location ranks in the top quartile nationally for both amenities and demographics among 1,441 metro neighborhoods, while the 1998 construction year provides a competitive edge over the area's older housing stock. Strong rental demand is supported by a 68.5% renter population within the 3-mile radius and median household incomes of $136,000, creating a premium tenant base capable of supporting higher rents.
Demographic projections show significant growth potential, with household counts forecast to increase 37% through 2028 according to multifamily property research data. The neighborhood's proximity to major employers like Abbott Laboratories and Activision Blizzard headquarters provides employment stability, while exceptional walkability scores and amenity density support tenant retention. However, investors should consider the mixed safety profile and recent occupancy softening when evaluating hold periods and exit strategies.
- Top quartile neighborhood ranking for amenities and demographics among 1,441 Los Angeles metro areas
- 1998 construction provides competitive advantage over neighborhood's 1961 average vintage
- Strong rental market with 68.5% renter tenure and $2,431 median contract rents
- Forecast 37% household growth through 2028 supports long-term demand
- Risk consideration: Below-average safety metrics and recent occupancy decline require active management