| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 93rd | Best |
| Amenities | 49th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 502 Colorado Ave, Santa Monica, CA, 90401, US |
| Region / Metro | Santa Monica |
| Year of Construction | 2002 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
502 Colorado Ave Santa Monica Multifamily Investment
Positioned in a high-cost ownership pocket of Santa Monica, this asset benefits from a deep renter base and steady demand drivers, according to WDSuite’s CRE market data. The neighborhood’s renter concentration and amenity density support leasing durability through cycles.
This Urban Core neighborhood rates in the top quartile among 1,441 Los Angeles metro neighborhoods (A- overall), signaling competitive fundamentals for multifamily. Restaurants and cafes are dense by national standards, and park access ranks at the very top nationwide—appealing traits that contribute to livability and tenant retention for workforce and professional renters.
The building s 2002 vintage is newer than the neighborhood s older housing stock (average year 1969). That positioning can offer a competitive edge versus nearby assets that may face heavier renovation scopes, while still warranting capital planning for systems and modernization as appropriate.
Renter-occupied housing accounts for a large share of neighborhood units, indicating depth in the tenant base that supports multifamily demand. Neighborhood occupancy has trended higher over the last five years, suggesting improving leasing conditions even as overall occupancy levels remain mid-pack nationally.
Within a 3-mile radius, demographics reflect a high-income renter pool with smaller household sizes and a projected increase in households alongside modest population growth. This combination typically expands the renter pool and supports occupancy stability and pricing power for well-located properties. Elevated home values in the area point to a high-cost ownership market, which tends to reinforce renter reliance on multifamily housing rather than competing directly with for-sale options.
School quality indicators are strong (top tier nationally), which can aid retention among households prioritizing education access. While childcare, grocery, and pharmacy counts are thinner in the immediate neighborhood footprint, proximity to Santa Monica s commercial corridors offsets some of that gap for daily needs.
Safety indicators for this neighborhood trend below national levels, with crime ranks positioned toward the higher end relative to the region. Compared with other Los Angeles metro neighborhoods (1,441 total), recent measures place the area in a weaker safety cohort, and national percentiles indicate elevated property and violent offense rates versus many U.S. neighborhoods.
Year-over-year estimates also show recent increases in both property and violent offenses. For investors, prudent risk management such as security features, lighting, access controls, and coordination with professional management can help support resident satisfaction and retention in this context. These figures reflect neighborhood-level conditions rather than the property itself and can shift with local policy and economic cycles.
Nearby headquarters and corporate offices provide a strong white-collar employment base that supports renter demand and commute convenience for residents, including Abbott Laboratories, Activision Blizzard, Occidental Petroleum, Microsoft, and AECOM.
- Abbott Laboratories healthcare & diagnostics (0.96 miles) HQ
- Activision Blizzard interactive entertainment (2.22 miles) HQ
- Occidental Petroleum energy (4.10 miles) HQ
- Microsoft Offices The Reserves technology offices (4.56 miles)
- AECOM engineering & infrastructure (5.22 miles) HQ
502 Colorado Ave offers scale at 44 units with a 2002 vintage in a Santa Monica submarket where the neighborhood s housing stock skews older. That relative youth can reduce near-term CapEx intensity versus legacy assets while still allowing targeted value-add upgrades to enhance rent positioning. Elevated home values and a large share of renter-occupied housing units point to durable multifamily demand and a broad tenant base. According to CRE market data from WDSuite, neighborhood occupancy has improved over the last five years, and amenity density including top-tier park access and strong dining options supports leasing appeal.
Forward-looking signals within a 3-mile radius indicate smaller household sizes and an increase in households, which typically expands the renter pool and supports absorption for well-located assets. The local employer base anchored by nearby headquarters and technology, media, and energy offices adds depth to white-collar demand and can aid lease retention. Key risks include neighborhood-level safety metrics and exposure to cyclical sectors; diligent property management and underwriting can help address these factors.
- 2002 vintage relative to older stock provides competitive positioning with selective value-add potential
- Large renter-occupied share and high-cost ownership market support demand depth and retention
- Amenity-rich Urban Core setting (top-tier parks, strong dining) underpins leasing appeal
- Nearby headquarters and corporate offices reinforce white-collar renter demand
- Risks: neighborhood safety metrics and sector cyclicality warrant security measures and conservative underwriting