| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 94th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 834 4th St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1972 |
| Units | 32 |
| Transaction Date | 2018-01-12 |
| Transaction Price | $17,500,000 |
| Buyer | SAMO 1 LLC |
| Seller | --- |
834 4th St Santa Monica Multifamily Investment
High renter concentration in the surrounding neighborhood supports durable leasing even as neighborhood occupancy has softened, according to WDSuite’s CRE market data.
Situated in Santa Monica’s Urban Core, the property benefits from a deep renter base and premier neighborhood fundamentals. Renter-occupied housing accounts for roughly seven in ten units locally, indicating a sizeable tenant pool for multifamily demand; this renter concentration ranks 175th among 1,441 Los Angeles metro neighborhoods, signaling competitive depth within the metro. Neighborhood occupancy is lower than metro norms (ranked 1,318 of 1,441), so operators should emphasize tenant retention and targeted leasing strategies to stabilize performance at the asset level.
Access to daily needs and lifestyle amenities is a core strength. The area scores in the top tier for amenities (overall amenity rank 10 of 1,441) with abundant restaurants, cafes, parks, pharmacies, and grocery options, supporting resident convenience and lease appeal. Public school quality is a standout with an average rating of 5.0 and the best rank in the metro (1 of 1,441), a differentiator for family and long-term renters.
Ownership costs are elevated locally—home values sit in the top national percentiles—reinforcing renter reliance on multifamily housing and supporting pricing power where units are well positioned. Rent-to-income ratios are comparatively manageable for the area, which can aid lease retention and reduce turnover risk for stabilized assets. This framing is consistent with the neighborhood’s high national percentiles for housing and incomes and aligns with commercial real estate analysis from WDSuite.
Demographic statistics within a 3-mile radius indicate a higher-income renter profile and forward growth in the renter pool. While recent population change has been modest, forecasts call for an increase in households and income growth through 2028, which supports a larger tenant base and steadier absorption. Average household sizes are trending smaller, which can favor well-located, professionally managed mid-size units.
Safety conditions should be evaluated with a neighborhood-level lens. The area’s crime rank is 1,354 out of 1,441 Los Angeles metro neighborhoods, indicating higher crime relative to the metro average. Nationally, the neighborhood sits in a lower safety percentile, so investors should underwrite appropriate security, lighting, access controls, and operating practices, and compare recent trend data to submarket peers.
Trends can evolve at the block level, so property-specific measures and tenant experience will materially influence outcomes. Benchmarking against nearby Los Angeles Westside neighborhoods and recent comps can help calibrate expectations for retention and operating costs.
Proximity to major corporate offices underpins workforce housing demand and commute convenience for residents, notably in life sciences, entertainment, energy, engineering, and technology—specifically Abbott Laboratories, Activision Blizzard, Occidental Petroleum, AECOM, and Microsoft.
- Abbott Laboratories — life sciences (1.9 miles) — HQ
- Activision Blizzard — entertainment/gaming (3.0 miles) — HQ
- Occidental Petroleum — energy (4.3 miles) — HQ
- AECOM — engineering & infrastructure (5.6 miles) — HQ
- Microsoft Offices The Reserves — technology (5.6 miles)
834 4th St offers scale at 32 units with 1972 construction, positioning it for targeted value-add and systems modernization to improve competitive standing against newer coastal product. The neighborhood combines top-tier amenities and schools with a large renter base, while elevated ownership costs support reliance on multifamily. According to CRE market data from WDSuite, neighborhood occupancy has softened, so the thesis centers on operational execution—renewals, unit quality, and leasing—rather than pure market lift.
Within a 3-mile radius, high household incomes and projected growth in households suggest a larger tenant base over the medium term, supporting occupancy stability and rent performance for appropriately finished units. Average unit sizes around 1,027 square feet are conducive to retention among professionals and families seeking space near employment centers.
- Large renter base and high-cost ownership market support sustained multifamily demand
- Amenity-rich, top-ranked school area enhances leasing appeal and renewal probability
- 1972 vintage offers value-add and system-upgrade potential to lift NOI
- Proximity to major employers supports steady tenant inflow and retention
- Risks: softer neighborhood occupancy and below-average safety metrics require disciplined operations and underwriting