| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 14th | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 68680 34th Ave, Cathedral City, CA, 92234, US |
| Region / Metro | Cathedral City |
| Year of Construction | 1983 |
| Units | 48 |
| Transaction Date | 2016-10-28 |
| Transaction Price | $17,534,000 |
| Buyer | MOUNTAIN VIEW COMMUNITY PARTNERS LP |
| Seller | 2010 MELBA E HORN TRUST |
68680 34th Ave Cathedral City Multifamily Investment
This 48-unit property benefits from strong neighborhood rental demand, with 70% renter-occupied housing reflecting sustained multifamily market fundamentals according to CRE market data from WDSuite.
Cathedral City's Urban Core neighborhood demonstrates solid fundamentals for multifamily investors, ranking in the top quartile nationally among 997 metro neighborhoods for rental share at 70% renter-occupied housing. The area maintains a 93.6% occupancy rate, reflecting stable tenant retention dynamics that support consistent cash flow operations.
The 1983 construction vintage aligns with the neighborhood average of 1984, positioning the property within established building stock that may present value-add renovation opportunities for capital improvement programs. Median contract rents of $1,188 have grown 19.8% over five years, indicating positive rental momentum while maintaining affordability relative to the $47,473 median household income.
Demographics within a 3-mile radius show a mature renter base with 57,691 residents and stable household formation trends. The area's grocery store density ranks in the 93rd percentile nationally, supporting tenant convenience and retention factors. Home values averaging $356,004 have appreciated 87.6% over five years, potentially reinforcing rental demand as elevated ownership costs keep households in the multifamily market.
The neighborhood earns a B rating with above-average housing fundamentals, though income demographics rank in the lower quartile nationally. Investors should monitor rent-to-income ratios and consider lease management strategies that balance growth with tenant retention in this income-sensitive market segment.
Safety metrics present a mixed profile requiring careful consideration. The neighborhood ranks 299th among 997 metro neighborhoods for overall crime, placing it above the metro median with a 57th percentile nationally. Property crime rates of 3.75 per 100,000 residents rank in the 97th percentile nationally, indicating relatively low property offense levels that support asset protection and insurance considerations.
Violent crime rates show more volatility, with recent increases of 171.8% year-over-year placing the area in the 9th percentile nationally for violent crime trends. While absolute rates remain moderate at 6.84 per 100,000 residents, investors should factor these dynamics into tenant screening protocols and property management strategies. The improving property crime trend, down 5.4% annually, suggests positive momentum in asset security fundamentals.
The local employment base includes corporate offices that support workforce housing demand, though the immediate area shows limited major employer concentration.
- Waste Management — corporate offices (7.3 miles)
This 48-unit Cathedral City property offers exposure to a stable rental market with strong occupancy fundamentals and established tenant demand. The neighborhood's 70% renter-occupied housing and 93.6% occupancy rate demonstrate consistent multifamily performance, while recent rent growth of 19.8% over five years indicates positive pricing momentum. The 1983 construction vintage presents potential value-add opportunities through strategic capital improvements and unit upgrades.
Demographics within a 3-mile radius support long-term rental demand with stable household formation and income growth trends. According to multifamily property research from WDSuite, the combination of strong grocery and pharmacy density enhances tenant retention factors. However, investors should carefully evaluate the income-sensitive tenant base and recent violent crime volatility when structuring lease terms and property management protocols.
- Strong rental market fundamentals with 70% renter-occupied housing and stable occupancy rates
- Positive rent growth momentum of 19.8% over five years supporting cash flow expansion
- Value-add potential through strategic renovations in established 1983 vintage property
- High-density amenity access supports tenant retention and leasing velocity
- Risk factors include income-sensitive tenant base and recent violent crime volatility requiring active management