Are apartment rental rates in Santa Monica, CA going up or down?

In Market Conditions - Asked by Rose D. - Oct 2, 2008
Report Abuse
Answer this Question

Answer(s)

Timothy F.
Owner/Investor
Santa Monica, CA

I own a 42 unit apartment a few miles away from the Promenade and rent is holding steady for me. I'm guessing there are less buyers now and more renters.

Oct 2, 2008
Report Abuse
David B.
Broker/Agent
Beverly Hills, CA

Santa Monica will always be a desirable place to live, and will generally appeal to a young, affluent renter. The Santa Monica apartment rental market is still very strong, and steady. Depending on where your property is, will determine what the market rents should be. Generally, rents have not changed in the last 6 months. They are holding firm. I would browse WestsideRentals.com and Craigslist.org to see what your neighbors are renting for.

Oct 3, 2008
Report Abuse
Chris S.
Broker/Agent
Coeur D'alene, ID

Both of the prior are great responses.
Watch out for rent control on the west side, could keep you rents frozen in place long term.

Jan 16, 2009
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question