| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Poor |
| Demographics | 36th | Fair |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 34300 Corregidor Dr, Cathedral City, CA, 92234, US |
| Region / Metro | Cathedral City |
| Year of Construction | 2011 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
34300 Corregidor Drive Cathedral City Multifamily Investment
This 60-unit property built in 2011 benefits from strong home values in the 90th percentile nationally, supporting sustained rental demand. According to CRE market data from WDSuite, the neighborhood maintains above-average NOI per unit performance compared to metro averages.
The Cathedral City neighborhood represents an inner suburb environment with mixed investment fundamentals. Built in 2011, this property offers newer construction that reduces near-term capital expenditure requirements compared to the neighborhood average construction year of 1976. The neighborhood ranks 648th among 997 metro neighborhoods with a C+ rating, positioning it competitively within the Riverside-San Bernardino-Ontario market.
Demographics within a 3-mile radius show a stable population base of approximately 54,800 residents, with households earning a median income of $72,563. The area maintains a 31% renter-occupied housing share, providing a solid tenant pool for multifamily properties. Projected household growth of 28% through 2028 and median income increases to $108,585 support expanding rental demand and potential for rent growth.
Home values averaging $625,729 place the neighborhood in the 90th percentile nationally, creating affordability pressures that sustain rental demand. The elevated ownership costs limit accessibility to homeownership, reinforcing tenant reliance on rental housing. However, neighborhood-level occupancy of 72.9% ranks in the bottom quartile nationally, indicating absorption challenges that require careful lease management and competitive positioning.
Amenity access shows mixed results, with strong grocery store density ranking in the 90th percentile nationally but limited childcare, pharmacy, and park availability. The area maintains decent restaurant access, supporting tenant appeal, though the average school rating of 1.0 out of 5 may impact family renter attraction.
Safety metrics present a balanced profile for the Cathedral City neighborhood. Property crime rates of 275 incidents per 100,000 residents rank 419th among 997 metro neighborhoods, placing the area near the median for property-related offenses. Encouragingly, property crime has declined 25.3% over the past year, ranking in the top third of metro neighborhoods for crime reduction trends.
Violent crime remains relatively low at 21.6 incidents per 100,000 residents, ranking in the 57th percentile nationally among neighborhoods. However, violent crime increased 47.7% over the past year, which merits monitoring for tenant retention considerations. Overall, the neighborhood maintains moderate safety conditions typical of inner suburban markets in the region.
The employment base includes corporate operations that support workforce housing demand in the Cathedral City submarket.
- Waste Management — corporate offices (6.8 miles)
This 60-unit Cathedral City property offers a newer construction advantage in a market supported by strong home values and demographic growth. Built in 2011, the asset requires minimal near-term capital improvements while benefiting from home values in the 90th percentile nationally, which sustain rental demand by limiting homeownership accessibility. Household growth projections of 28% through 2028 and rising median incomes support tenant base expansion and rent growth potential.
According to multifamily property research from WDSuite, the neighborhood generates above-average NOI per unit performance despite occupancy challenges. The declining property crime trend and established grocery access provide operational stability, though investors should monitor the lower neighborhood occupancy rates and plan competitive leasing strategies to capture demand from the expanding renter pool.
- Newer 2011 construction reduces capital expenditure requirements
- Home values in 90th percentile nationally support rental demand
- Projected 28% household growth through 2028 expands tenant base
- Above-average NOI per unit performance in metro comparison
- Risk: Neighborhood occupancy at 72.9% requires competitive leasing strategy