Santa Monica, CA 90401 · APN 4291-022-027
UNITS
100
BUILDING SF
116,964
SF / UNIT
1,170
YEAR BUILT
2022
BEDROOMS
99
BATHROOMS
99
USE · CODE 0551
5+ UNITS
PROP 13 ASSESSED VALUES — USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE — NOT A VERIFIED CLOSING PRICE.
Built 2022 — buildings under 15 years old are exempt from AB 1482; the state cap applies once the building turns 15.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.
Built 2022 — buildings under 15 years old are exempt from AB 1482; the state cap applies once the building turns 15. This is an inference from public assessor records, not a determination — confirm the certificate of occupancy date with the LA Housing Department or ZIMAS before you rely on it for pricing or notices.
County records list 100 units at 1550 Lincoln Blvd, classified as 5+ units across 116,964 square feet of building area, averaging about 1,170 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
The assessor roll gives a build year of 2022, which is after the October 1978 RSO cutoff. Age drives more than character here: it sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
The last recorded transfer was July 2024, at an estimated $75,750,000 — about $757,500 per unit. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
The current assessed value is $75,750,000 ($24,000,000 land, $51,750,000 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
Public records give you the frame — units, size, age, assessed value, when it last traded — but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
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