The two areas to which you are referring are quite different in feel. The Princeton/Wilshire location is in the college streets neighborhood, Mc Kinley school district. It is populated by mulit-family buildings, both apartments and condos. It has a quiet walkable feel but is almost the furthest from the beach. Condos in this area range in price from $369k for a 1 bedroom to $950k for a new construction large townhouse style unit. Prices have fallen over the last 5 years but seem to have now stabilized.
The Broadway and 12th location while closer to the beach is also close to light industrial and commercial zoning though the city is in the process of redeveloping the area it doesn't have a cohesive neighborhood feel.
As far as whether or not a condo in either area is a good investment, Santa Monica in general has held up better than other areas during the recession and housing crash. I believe that now is a good time to buy with rates low. That said, inventory is also quite low which is pushing price higher.
I am happy to answer any question regarding Santa Monica and the Westside. I have been a resident here for over 35 years. Please feel free to contact me at (310) 270-7548 or by email at email@example.com
At the same time you must consider other factors such as : price, condition, amenities , etc...
Please contact me direct so that I can provide you more info on these and similar properties in the area.
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The city of Santa Monica is vast (5 zip codes) and has many strengths, each within their own particular zip code. The strengths are fantastic schools throughout, our own police dept, proximity to the Ocean, convenience to commute, shopping, dining etc...... that being said, the property values remain strong because the area is very attractive to most prospects looking in the area. the two neighborhoods that you are questioning is not a simple answer for a few reasons but a simple answer would be the closer to the ocean, promenade, fwy access and shopping would be 12th & broadway but the other factors to consider are building age; upgrades; is the Princeton property north of Wilshire?; torca or built as a condo; 12th & broadway is more commercialy & industrially mixed than Princeton and other factors that make that answer a bit more complex. I'd be happy to speak with you about which (2) properties you are inquiring about and give you my professional opinion anytime. i can be reached at 310.710.5214. As far as which is the safest i would advise you to phone the Santa Monica Police Dept. Hope this helps. Have a great day!!
Both of these areas are considered good areas..however, the further north you go, the higher the price.
Please feel free to contact me for more specific information.
Susan Bo'ur Realtor-Coldwell Banker
Santa Monica office
Bob Friday, Director