| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 93rd | Best |
| Amenities | 49th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 926 2nd St, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1987 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
926 2nd St Santa Monica Multifamily Opportunity
Positioned in Santa Monica an Urban Core pocket with strong renter concentration and top-tier schools the asset benefits from durable neighborhood demand, according to WDSuite s CRE market data. Neighborhood occupancy metrics reference the surrounding area, where elevated ownership costs and amenity depth support leasing stability for well-managed properties.
Santa Monica s Urban Core combines daily-life convenience with coastal lifestyle drivers that matter to renters. Restaurants and cafes are dense (both competitive nationally), and the neighborhood ranks top nationally for park access, enhancing resident appeal and retention. By contrast, neighborhood grocery and pharmacy counts are light, which may shift some shopping to nearby districts but typically does not diminish demand in this location.
School quality is a standout he neighborhood s average school rating sits at the top among 1,441 metro neighborhoods, a differentiator for family-oriented renters. Home values are elevated relative to income levels locally and nationally, creating a high-cost ownership market that tends to sustain reliance on multifamily housing and can support pricing power and lease retention in professionally operated assets.
Neighborhood occupancy is reported for the surrounding area and sits near the high-80s to ~90% range with improvement over the past five years, indicating stable absorption conditions rather than a peak-tight market. The share of renter-occupied housing units in the neighborhood is high (upper end among metro peers), signaling a deep tenant base and sustained multifamily demand.
Within a 3-mile radius, incomes skew higher and the renter pool is sizable, with forecasts showing an increase in households and continued rent growth over the next five years. This combination supports ongoing leasing velocity and renewal prospects, even as households trend smaller a pattern that can expand demand for well-located, professionally managed apartments.
Vintage context matters here: the neighborhood s average construction year trends to the late 1960s, while the subject s 1987 vintage is newer than much of the surrounding stock. That positioning can reduce near-term capital intensity relative to older assets while still leaving room for targeted modernization or value-add to drive competitive differentiation.
Safety indicators for the neighborhood rank toward the lower end among 1,441 Los Angeles metro neighborhoods, placing it below metro averages and well below national percentiles. Recent year-over-year readings show increases in both violent and property offenses, so investors commonly underwrite for security measures, insurance costs, and operating protocols that reflect an urban core location.
Framing this comparatively: a lower metro rank signals higher crime incidence relative to other local neighborhoods, while national percentiles in the lower range indicate weaker safety positioning versus neighborhoods nationwide. Operators who emphasize access control, lighting, and resident communication typically mitigate risk and support retention.
The immediate area draws from a diverse Westside employer base that supports renter demand through short commutes and professional wage concentrations. Nearby anchors include healthcare, gaming, energy, technology, and engineering firms.
- Abbott Laboratories
- Activision Blizzard
- Occidental Petroleum
- Microsoft Offices The Reserves
- AECOM
926 2nd St is a 1987-vintage, 23-unit asset in Santa Monica s Urban Core, positioned newer than much of the surrounding stock. The location combines a high renter-occupied share in the neighborhood with elevated ownership costs, reinforcing a deep tenant base and pricing resiliency. According to CRE market data from WDSuite, neighborhood occupancy has trended upward in recent years and sits around the high-80s to ~90% range, supporting stable leasing for well-run properties.
Within a 3-mile radius, household incomes are high and projections point to an increase in households and continued rent growth, which supports a larger tenant base over time. The asset s vintage creates optionality: lighter structural CapEx than older mid-century buildings, with room for targeted interior updates, amenity refresh, or energy-efficiency upgrades to elevate yield relative to nearby Class B competition.
- Newer-than-neighborhood vintage (1987) offers competitive positioning with value-add pathways.
- High neighborhood renter-occupied share and strong incomes underpin a deep tenant base.
- Upward-trending neighborhood occupancy and projected household growth support leasing stability.
- Elevated home values versus incomes sustain reliance on rentals and potential pricing power.
- Risks: below-metro safety rankings and limited nearby grocery/pharmacy options may require enhanced operations and resident communication.