| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 84th | Best |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3275 Barnard Way, Santa Monica, CA, 90405, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1977 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3275 Barnard Way Santa Monica Multifamily Investment
High renter concentration and a high-cost ownership landscape underpin durable renter demand in this Santa Monica submarket, according to WDSuite’s CRE market data. Neighborhood occupancy trends should be monitored, but proximity to jobs and daily amenities supports leasing resilience.
Rated A and ranked 203rd of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, this area sits in the top quartile metro-wide. Amenity access is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 464 of 1,441), with restaurants and everyday services in strong supply. Parks are a standout strength, with park density in the top percentile nationally, which enhances livability and supports retention for tenants who value outdoor access.
Neighborhood-level housing dynamics show a renter-occupied share of housing units at 62.5% (above most U.S. neighborhoods), signaling depth in the tenant base for multifamily. By contrast, neighborhood occupancy levels are below national norms; this is a neighborhood metric, not the property, and suggests underwriting should emphasize leasing strategy and concessions management if needed.
Within a 3‑mile radius, demographic data indicate a large, high-income renter pool and continued household growth ahead. Projections show an increase in households and incomes through the next five years, pointing to a larger tenant base and support for rent levels and occupancy stability. Average school ratings trend slightly above national midpoints, helping broaden appeal to a variety of renter profiles.
Ownership costs are among the highest nationally, with elevated home values and a value-to-income ratio at the top of national comparisons. For investors, this high-cost ownership market tends to sustain reliance on multifamily housing, which can support pricing power and lease retention. At the same time, rent-to-income levels in the neighborhood sit near the lower national deciles, which can reduce affordability pressure and aid renewal outcomes.
Safety indicators are mixed but trending favorably. The neighborhood ranks 634th of 1,441 metro neighborhoods, placing it roughly mid-pack locally, and sits around the 60th percentile for safety nationally. Importantly, WDSuite data show notable year-over-year declines in both property and violent offense rates, placing the neighborhood’s improvement metrics in the top tiers nationally, which supports a more stable operating outlook.
Investors should approach block-level assumptions cautiously and rely on current, property-specific security plans; however, the directional trend of improving incident rates suggests incremental support for tenant retention and leasing over the medium term.
Nearby corporate offices create a robust employment base that favors commuter convenience and supports multifamily demand, led by Abbott Laboratories, Activision Blizzard, Microsoft, Occidental Petroleum, and Symantec.
- Abbott Laboratories — healthcare & life sciences (0.35 miles) — HQ
- Activision Blizzard — interactive entertainment (2.25 miles) — HQ
- Microsoft Offices The Reserves — technology offices (3.49 miles)
- Occidental Petroleum — energy corporate offices (4.78 miles) — HQ
- Symantec — cybersecurity offices (5.33 miles)
A 100-unit asset in Santa Monica benefits from a renter-driven housing ecosystem and a deep employment base. High home values and a top-percentile value-to-income ratio signal a high-cost ownership market that generally sustains renter reliance on multifamily, while neighborhood rent-to-income levels indicate comparatively manageable burdens for many households. Based on commercial real estate analysis from WDSuite, the neighborhood’s average NOI per unit performs near the top decile nationally, and amenity access—especially parks, restaurants, and daily services—supports tenant retention.
Key underwriting considerations include neighborhood-level occupancy that trails national norms and cycle sensitivity typical of coastal urban cores. However, within a 3‑mile radius, projections for household growth and income expansion point to a larger tenant base over the next five years, reinforcing the long-term case for stable leasing and measured rent growth.
- High-cost ownership market supports sustained multifamily demand and pricing power
- Strong amenity access and park density bolster livability and renewals
- Deep nearby employer base enhances leasing velocity and retention
- 3‑mile forecasts indicate household and income growth, expanding the renter pool
- Risk: neighborhood occupancy sits below national norms—underwrite leasing strategy and concessions