| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 59th | Best |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 77120 California Dr, Palm Desert, CA, 92211, US |
| Region / Metro | Palm Desert |
| Year of Construction | 2002 |
| Units | 76 |
| Transaction Date | 2003-07-30 |
| Transaction Price | $7,300,000 |
| Buyer | PD VILLAS ON THE GREEN LP |
| Seller | VILLAS ON THE GREEN LLC |
77120 California Dr Palm Desert Multifamily Investment
2002 vintage in an inner-suburban pocket of Palm Desert with a high renter-occupied share suggests durable tenant depth, while neighborhood occupancy trends warrant close monitoring according to WDSuite’s CRE market data.
Located in Palm Desert’s inner suburb within the Riverside–San Bernardino–Ontario metro, the neighborhood scores well on overall dynamics (A- rating) and is competitive among metro peers (ranked 158 out of 997 neighborhoods). Investors benefit from daily-needs convenience: grocery and pharmacy access sit above national averages (both in higher national percentiles), while childcare density is a relative strength. Cafe and park density are limited, implying a quieter residential setting rather than a lifestyle hub.
The area’s housing stock skews older on average (1971 typical year), positioning a 2002 construction as comparatively newer and more competitive versus legacy properties. This typically supports leasing and reduces near-term capital expenditure risk, while still leaving room for targeted modernization to drive value-add outcomes as systems age.
Tenure data indicate a high share of renter-occupied housing units in the neighborhood (upper national percentile), which points to a deeper tenant base and supports multifamily demand. However, neighborhood occupancy is below the metro median based on the provided rank, so operators should plan for active leasing and asset positioning to maintain stability.
Within a 3-mile radius, demographics show recent growth in population and households, with projections through 2028 for further population growth and a notable increase in households. This expansion should widen the renter pool and support occupancy stability. Mean and median household incomes within this radius are higher and rising, which can backfill demand for quality rentals, though it may also segment demand toward well-amenitized product.
Home values are elevated for the neighborhood relative to incomes (high national percentile for value-to-income), characteristic of a high-cost ownership market. For multifamily investors, this typically sustains renter reliance on apartments and can support pricing power, while requiring thoughtful lease management where rent-to-income levels suggest affordability pressure for some cohorts.
Neighborhood safety indicators compare favorably: the area ranks stronger on crime within the metro (ranked 181 out of 997 neighborhoods), and overall sits above the national midpoint. Property and violent offense rates are closer to national averages, but both have declined sharply year over year, indicating improving trends. These are neighborhood-level signals and may not reflect block-level conditions.
Proximity to a stable services employer supports workforce housing demand and commute convenience for residents.
- Waste Management — environmental services (2.5 miles)
This 76-unit, 2002-built asset stands newer than the neighborhood’s older 1970s-era stock, offering competitive positioning with potential for targeted upgrades rather than full-scale repositioning. A high renter-occupied share signals meaningful tenant depth, and 3-mile demographics point to ongoing population and household growth that can support occupancy and absorption. According to CRE market data from WDSuite, neighborhood occupancy trends sit below the metro median, so leasing strategy and product differentiation remain central to performance.
Elevated home values relative to incomes at the neighborhood level reinforce renter reliance on multifamily, supporting pricing power for well-managed properties. Nearby daily-needs amenities (grocery, pharmacy, childcare) are strengths for resident retention, while limited parks and cafes suggest the value proposition should lean on convenience and in-property amenities.
- 2002 vintage offers competitive position versus older neighborhood stock, with selective value-add potential
- High neighborhood renter-occupied share supports a deeper tenant base and demand stability
- 3-mile population and household growth expand the renter pool, aiding occupancy and lease-up
- Elevated ownership costs reinforce renter reliance, supporting rent durability for quality assets
- Risk: neighborhood occupancy is below metro median; active leasing and amenity strategy are important