Apartment building insurance in Santa Monica (90404)
Santa Monica (90404) has its own rent stabilization ordinance, which covers buildings built before 1979. With 87% of the 687 apartment buildings here predating 1978, that means capped rents and a right of return for displaced tenants, and both of those stretch how long a rebuild takes to pay for itself.
What this means for a building in Santa Monica (90404)
- Age. The median apartment building here was built in 1959, and 87% are pre-1978. That is the ordinance and law and soft-story conversation. Why it matters.
- Size. The average building is 10.3 units and about 7,342 square feet, which puts replacement cost near $2,386,150 at $325 per square foot.
- Rent regulation. Santa Monica rent stabilization covers buildings built before 1979, which slows a rebuild and argues for 18 to 24 months of loss of rents.
- Market. No 5+ unit building here has recorded a sale in the last six months, so this is mostly a hold-and-own market where policies renew on autopilot.
- Price. Older buildings across LA County are paying $1,500 to $2,500 per unit per year. What drives it.
What I would check first on a building in Santa Monica (90404)
If you sent me an address here, I would start with the update history on roof, plumbing, electrical and panel, with dates and permits, because underwriters price documents rather than intentions. Then the ordinance and law limits, since 87% of the buildings here would have to be rebuilt to today's code. After that, the loss of rents months, because a rent-regulated rebuild pays back slowly and twelve months runs out first. Every one of those is public record, and checking them costs you nothing.
Nearby areas
The same public records for the areas next door.
- Santa Monica (90403) 844 buildings
- Santa Monica (90405) 591 buildings
- Santa Monica (90401) 181 buildings