| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Poor |
| Demographics | 70th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 46225 Verba Santa Dr, Palm Desert, CA, 92260, US |
| Region / Metro | Palm Desert |
| Year of Construction | 1988 |
| Units | 28 |
| Transaction Date | 2021-03-28 |
| Transaction Price | $165,000 |
| Buyer | GROUNDSPACE LLC |
| Seller | RUSH MATTHEW SHEVLIN |
46225 Verba Santa Dr Palm Desert Multifamily Investment Profile
Amenity-rich Palm Desert location with a high-cost ownership market supports durable renter demand, according to WDSuite’s CRE market data, while a 1988 vintage offers potential to compete well against older local stock.
Palm Desert’s neighborhood context skews suburban with lifestyle conveniences that help leasing: restaurant density ranks 19 out of 997 metro neighborhoods and cafes rank 29, placing both in the top quartile nationally, while groceries (rank 101) and pharmacies (rank 43) are also strong. Limited parks and childcare options (both ranked 997 of 997) suggest fewer family-oriented amenities nearby, an important consideration for unit mix and positioning.
The area’s housing stock is older on average (1973), so a 1988 property can present a relative competitive edge, though investors should plan for systems modernization over time. Neighborhood renter concentration is measured at the neighborhood level, with renter-occupied housing representing 34.2% of units; this indicates a meaningful but not dominant tenant base and suggests demand stability tied to lifestyle and ownership costs rather than purely renter saturation.
Within a 3-mile radius, households have increased modestly while population edged down, signaling smaller household sizes and a shift toward more, smaller households that can bolster the renter pool and support occupancy. Projections within the same 3-mile radius indicate further household growth and a rising share of renter-occupied units over the next five years, which can widen the tenant base and aid leasing velocity.
Elevated home values (national percentile 86) and a high value-to-income ratio (national percentile 91) point to a high-cost ownership market, reinforcing reliance on multifamily housing and supporting pricing power when units are well maintained and positioned. Rent-to-income appears moderate for the neighborhood, which can aid lease retention, though operators should still manage renewals carefully as rents trend upward.
Safety trends should be assessed at the neighborhood level rather than the property. The neighborhood’s overall crime standing is below the national median (crime national percentile 41), and its rank of 653 among 997 metro neighborhoods indicates it performs below the metro median on safety.
Property offenses are relatively elevated within the metro (rank 865 of 997), yet recent data show an improving trajectory with a notable year-over-year decline. Violent offense indicators sit below the national median as well. For underwriting, investors often pair this context with asset-level security measures and tenant screening to support retention and collections.
This 28-unit, 1988-vintage asset in Palm Desert benefits from an amenity-rich corridor and a high-cost ownership backdrop that sustains rental demand. The vintage is newer than the neighborhood average, positioning the property to compete against older stock, though selective capital improvements can enhance renter appeal and help maintain occupancy stability. Based on CRE market data from WDSuite, neighborhood rents sit in the upper tiers regionally while home values are elevated, reinforcing multifamily’s role for local households.
Within a 3-mile radius, households are rising even as population trends flat to down, indicating smaller household sizes and a broader renter pool over time. Neighborhood-level renter-occupied share is meaningful but not dominant, suggesting demand is grounded in lifestyle and ownership-cost dynamics rather than concentration alone. Operators who align finishes and amenities to this demand profile can capture renewals while managing affordability pressure.
- Amenity-dense location supports leasing; restaurants and cafes rank in the top quartile nationally among 997 metro neighborhoods.
- 1988 vintage offers competitive positioning versus older neighborhood stock, with value-add potential through targeted modernization.
- High-cost ownership market reinforces renter reliance on multifamily, aiding pricing power and renewal strategies.
- 3-mile household growth and smaller household sizes broaden the tenant base and support occupancy management.
- Risk: Neighborhood safety ranks below metro median; consider security and operations plans to support retention.