| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 91st | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 315 Montana Ave, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | 2000-10-23 |
| Transaction Price | $2,284,500 |
| Buyer | SACKLER ALLEN |
| Seller | THE CHICAGO TRUST COMPANY OF CALIFORNIA |
315 Montana Ave Santa Monica Multifamily — Large-Unit Asset
Positioned in a high-income, coastal neighborhood where elevated ownership costs sustain rental demand, this asset offers uncommon unit sizes that can support retention; neighborhood occupancy is referenced at the neighborhood level, not the property, according to WDSuite’s CRE market data.
Santa Monica’s north-of-downtown blocks combine lifestyle appeal with durable renter demand drivers. Parks access is a standout, with the neighborhood performing in the top percentiles nationally for park density, and local schools rate among the strongest nationwide—factors that often support family-friendly leasing and longer tenancy horizons.
Home values are elevated relative to the nation and metro, which tends to reinforce reliance on multifamily housing rather than ownership and can support pricing power when units are well-amenitized. Neighborhood-level rents sit on the higher end for Los Angeles and have trended upward over the past five years, pointing to depth among qualified renters.
Within a 3-mile radius, housing units are predominantly renter-occupied (roughly two-thirds), indicating a substantial tenant base and day-to-day demand for professionally managed apartments. While the neighborhood’s occupancy rate trends below national norms (bottom quintile nationally), strong incomes and high-value housing stock suggest that well-positioned assets can still compete effectively on quality and unit mix.
Demographic data aggregated within a 3-mile radius shows stable-to-rising household incomes and a forecasted increase in households alongside slightly smaller average household sizes. That combination typically expands the renter pool and supports absorption, even if headline population growth is modest. NOI per unit at the neighborhood level ranks among the stronger areas nationally, signaling solid income potential where operations are optimized.
Safety outcomes are below both metro and national averages, with the neighborhood ranking toward the weaker end among 1,441 Los Angeles–area neighborhoods and sitting in lower national percentiles. Recent year-over-year estimates show increases in both property and violent offense rates, suggesting investors should incorporate security, lighting, and access controls into underwriting and capital plans.
As with any urban coastal submarket, conditions can vary block to block and over time. Framing risk comparatively, this area performs below the metro median; prudent asset management can mitigate exposure through resident screening, building hardening, and partnership with local safety programs.
Nearby headquarters and corporate offices create a strong, diversified employment base that supports renter demand and commute convenience, notably from Abbott Laboratories, Activision Blizzard, Occidental Petroleum, AECOM, and Microsoft offices.
- Abbott Laboratories — healthcare products (1.97 miles) — HQ
- Activision Blizzard — video games & entertainment (3.04 miles) — HQ
- Occidental Petroleum — energy (4.27 miles) — HQ
- AECOM — engineering & infrastructure (5.59 miles) — HQ
- Microsoft Offices The Reserves — technology offices (5.65 miles)
315 Montana Ave combines coastal fundamentals with an investor-friendly unit mix: 48 apartments averaging ~1,345 square feet support family and roommate demand profiles that can bolster renewal rates. Elevated local home values and high household incomes reinforce a deep renter base, while top-tier schools and abundant parks strengthen livability—useful for retention and leasing velocity.
According to CRE market data from WDSuite, the surrounding neighborhood’s occupancy trend sits below national norms, placing a premium on competitive positioning, operations, and unit quality. However, the 3-mile radius shows a large renter-occupied share and rising household counts over the forecast period, which can expand the tenant pool. Proximity to multiple headquarters further supports weekday population and leasing stability. Risk management should account for below-average safety metrics with thoughtful security and capex planning.
- Large average unit size (~1,345 sq. ft.) supports family and roommate leasing depth
- High-cost ownership market sustains multifamily demand and pricing power
- Strong schools and park access enhance retention and resident satisfaction
- Corporate HQ cluster within 2–6 miles underpins employment-driven demand
- Risks: below-average safety metrics and softer neighborhood occupancy require active management