| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 84th | Best |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3356 Barnard Way, Santa Monica, CA, 90405, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1982 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3356 Barnard Way Santa Monica Multifamily Investment
Investor outlook centers on durable renter demand supported by a high-cost ownership market and a deep tenant base, according to WDSuite’s CRE market data. Neighborhood occupancy runs below top-tier Los Angeles levels, so performance hinges on leasing execution and product differentiation.
Located in Santa Monica’s Urban Core, the property benefits from neighborhood fundamentals that are competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 203 out of 1,441 overall). Parks and open space are a clear strength with park density in the top percentile nationally, while restaurants are also abundant (top national tier). Grocery and pharmacy access track well above national norms, though cafes and childcare are thinner nearby, shaping a convenience profile that still supports day-to-day living for renters.
Rents in the immediate neighborhood benchmark high versus the nation, yet rent-to-income metrics trend more manageable than many coastal peers, helping support lease retention. The local occupancy rate for the neighborhood is lower than metro leaders, which places a premium on property-level marketing and renewal management. Against this backdrop, the area’s A-rated neighborhood score and strong NOI per unit performance (top national tier) indicate that well-positioned assets can still achieve consistent operations.
The asset’s 1982 vintage is somewhat newer than the surrounding stock (average vintage 1975), offering a relative edge versus older buildings. Investors should still plan for aging-system updates and targeted modernization to sustain competitiveness and support rent positioning without overextending capital.
Within a 3-mile radius, demographics point to a high-income renter base and continued depth of demand: renter-occupied housing accounts for a substantial share of units, household incomes are strong, and households are expected to increase through the forecast period. These trends translate into a larger tenant base and support for occupancy stability over time. For multifamily property research, this submarket’s high home values (top national tier) generally reinforce reliance on rental housing, which can aid pricing power for updated product.
Safety indicators are mixed but trending in a favorable direction. The neighborhood sits roughly in the metro’s middle tier for crime (ranked 634 of 1,441 within the Los Angeles region), with national comparisons indicating modestly safer-than-average conditions overall. Importantly, both property and violent offense rates have declined sharply year over year, signaling improvement momentum that investors should monitor as part of underwriting and renewal strategies.
Proximity to major employers across healthcare, gaming, software, energy, and engineering underpins a steady professional renter base and commute convenience for residents. The list below reflects nearby anchors most relevant to tenant demand in this submarket.
- Abbott Laboratories — healthcare & diagnostics (0.4 miles) — HQ
- Activision Blizzard — gaming & interactive entertainment (2.3 miles) — HQ
- Microsoft Offices The Reserves — software & cloud offices (3.5 miles)
- Occidental Petroleum — energy (4.8 miles) — HQ
- AECOM — engineering & infrastructure (5.6 miles) — HQ
This 24-unit asset at 3356 Barnard Way sits in an A-rated Santa Monica neighborhood where high ownership costs and a deep professional employment base support sustained renter demand. According to CRE market data from WDSuite, the area’s income profile and reliance on rental housing help offset a neighborhood occupancy rate that trails top-performing Los Angeles submarkets, making leasing execution and unit quality key value drivers.
Constructed in 1982, the property is newer than much of the surrounding stock, offering relative competitiveness versus older buildings while still warranting targeted system upgrades and modernization. Within a 3-mile radius, households are projected to grow and incomes are strong, expanding the renter pool and supporting rent positioning for well-maintained units over the medium term.
- High-cost ownership market reinforces multifamily demand and supports pricing power for updated units.
- Renter concentration and strong local incomes underpin a deep tenant base within a 3-mile radius.
- 1982 vintage provides a competitive edge versus older stock, with targeted capex to enhance leasing and retention.
- Proximity to major employers supports stable demand and reduces commute friction for residents.
- Risk: neighborhood occupancy below metro leaders requires disciplined leasing and renewal management to sustain performance.