| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 59th | Best |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 42675 Washington St, Palm Desert, CA, 92211, US |
| Region / Metro | Palm Desert |
| Year of Construction | 1987 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
42675 Washington St Palm Desert Multifamily Investment
This 40-unit property built in 1987 operates in a neighborhood with 87.2% occupancy and strong renter demand, positioned within Palm Desert's established multifamily market according to CRE market data from WDSuite.
Located in Palm Desert's inner suburb setting, this neighborhood ranks in the top quartile nationally for childcare density and pharmacy access, supporting tenant retention among families and older residents. The area maintains 87.2% occupancy rates with a 49% rental share, indicating balanced housing tenure that sustains multifamily demand.
Demographics within a 3-mile radius show a mature population base with 34.2% aged 65 and over, while median household income of $92,221 supports rental pricing power. The property's 1987 construction year aligns with the neighborhood's average vintage of 1971, suggesting consistent building stock with potential value-add opportunities through selective renovations and unit improvements.
Rent trends show the neighborhood's median contract rent at $1,165 with 21.8% growth over five years, though this reflects broader affordability dynamics as the rent-to-income ratio sits in the 7th national percentile. Home values averaging $395,500 with 33.9% appreciation help sustain rental demand by keeping ownership costs elevated relative to renting options.
The neighborhood ranks 181st among 997 metro neighborhoods for overall crime metrics, placing it above the regional median with a 63rd national percentile for safety performance. Property crime rates have declined significantly with a 55.8% reduction over the past year, while violent crime has decreased 58.5%, both trends ranking in the top 10% nationally for improvement.
These improving safety metrics support tenant retention and leasing velocity, particularly important given the area's family-oriented demographics and established residential character.
The immediate area features limited major corporate presence, with employment anchored primarily by service sector businesses supporting the local residential base.
- Waste Management — corporate offices (3.1 miles)
This 40-unit property benefits from Palm Desert's established rental market dynamics, with neighborhood-level occupancy at 87.2% supporting operational stability. The 1987 construction year presents value-add potential through strategic unit upgrades and common area improvements, while the area's high pharmacy and childcare density appeals to long-term tenants including families and retirees.
Demographic projections within a 3-mile radius show household growth of 33.8% through 2028, expanding the potential tenant base. However, investors should monitor the low rent-to-income ratio which may limit aggressive rent growth, requiring careful lease management and retention strategies according to multifamily property research from WDSuite.
- Stable 87.2% neighborhood occupancy supports cash flow consistency
- 1987 vintage allows value-add through targeted renovations
- Strong household growth projections expand tenant pool through 2028
- Improving safety trends support tenant retention and leasing
- Low rent-to-income ratio requires careful lease pricing strategy