| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 91st | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 527 San Vicente Blvd, Santa Monica, CA, 90402, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1996 |
| Units | 24 |
| Transaction Date | 1995-02-08 |
| Transaction Price | $1,000,000 |
| Buyer | WESTSIDE LAND COMPANY INC |
| Seller | FLETCHER WALTER J |
527 San Vicente Blvd Santa Monica Multifamily Investment
This 24-unit property sits in a top-tier neighborhood with median home values exceeding $1.8 million, reinforcing rental demand in one of Los Angeles County's most affluent submarkets.
This Santa Monica neighborhood ranks in the top quartile nationally for demographics and housing fundamentals, with median household income of $160,784 placing it in the 95th percentile nationwide. The area maintains strong educational appeal with perfect school ratings averaging 5.0 out of 5, supporting tenant retention among families and professionals. Approximately 36% of housing units are renter-occupied, providing a stable rental market foundation.
Built in 1996, the property represents newer construction relative to the neighborhood average of 1971, potentially reducing near-term capital expenditure requirements compared to older multifamily stock. Median contract rents of $2,406 reflect the area's premium positioning, though rent-to-income ratios suggest manageable affordability for the affluent tenant base. The neighborhood demonstrates strong amenity access with park density ranking in the 98th percentile nationally and substantial restaurant options.
Demographics within a 3-mile radius show household income growth of 26.2% over five years, with projections indicating continued expansion. The area maintains 63.5% renter-occupied housing units, reinforcing multifamily demand fundamentals. However, occupancy rates at 77.5% trail metro averages, requiring attention to competitive positioning and lease management strategies.
The neighborhood's crime profile presents mixed signals for investor consideration. Property offense rates rank in the lower quartile among 1,441 Los Angeles metro neighborhoods, with recent increases of 15% year-over-year requiring ongoing monitoring. Violent crime rates also trend above preferred levels, ranking in the lower portion of metro neighborhoods. While these metrics warrant attention in underwriting and property management planning, the area's high-income demographics and strong fundamentals continue to support rental demand.
The property benefits from proximity to major corporate headquarters and offices, supporting professional renter demand in the Santa Monica submarket.
- Abbott Laboratories — pharmaceutical headquarters (2.5 miles) — HQ
- Activision Blizzard — gaming & entertainment headquarters (3.4 miles) — HQ
- Occidental Petroleum — energy headquarters (4.2 miles) — HQ
- AECOM — engineering & construction headquarters (5.6 miles) — HQ
- Microsoft Offices The Reserves — technology offices (6.1 miles)
The property's Santa Monica location offers exposure to one of Los Angeles County's most affluent submarkets, with neighborhood home values exceeding $1.8 million creating sustained rental demand among high-income professionals. According to CRE market data from WDSuite, the area demonstrates strong demographic fundamentals with median household incomes in the 95th percentile nationally, supporting premium rental positioning. The 1996 construction provides a competitive advantage over the neighborhood's older housing stock, potentially reducing capital expenditure requirements relative to value-add opportunities in surrounding vintage properties.
Projected household growth within the 3-mile radius and proximity to major corporate employers including Abbott Laboratories and Activision Blizzard headquarters reinforce long-term tenant demand drivers. The area's perfect school ratings and exceptional park access support family retention, while the substantial renter base of 63.5% indicates established multifamily market fundamentals.
- Premium Santa Monica submarket with top-quartile demographics nationally
- 1996 construction offers competitive advantage over neighborhood average vintage
- Proximity to major corporate headquarters supports professional renter demand
- High ownership costs exceeding $1.8 million median reinforce rental market positioning
- Risk consideration: Below-average occupancy rates require active lease management focus