| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 62nd | Best |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 N Sunrise Way, Palm Springs, CA, 92262, US |
| Region / Metro | Palm Springs |
| Year of Construction | 1972 |
| Units | 118 |
| Transaction Date | 2005-06-09 |
| Transaction Price | $14,962,500 |
| Buyer | Catalina Grove LP |
| Seller | California Palm Springs LP |
400 N Sunrise Way Palm Springs Multifamily Investment
In a high-cost ownership pocket of Palm Springs, elevated home values and a strong renter-occupied base suggest durable tenant demand, according to WDSuite s CRE market data. For investors, this location offers income stability potential supported by neighborhood fundamentals rather than short-term momentum.
Located in Palm Springs inner suburb fabric, the neighborhood is competitive among Riverside San Bernardino Ontario submarkets (ranked 185 of 997), indicating above-median local fundamentals for multifamily. Amenity access skews toward outdoor and daily-needs convenience parks are a standout (top national percentile band), restaurants are plentiful relative to many U.S. neighborhoods, and pharmacies are accessible; by contrast, grocery and caf e densities are thin, which may influence tenant errand patterns.
Housing context favors rentals. The share of housing units that are renter-occupied is elevated at the neighborhood level (52.9%), pointing to a deeper tenant base and potential leasing velocity for larger assets. Neighborhood occupancy has trended upward over five years but remains comparatively soft, suggesting that well-executed management, targeted renovations, or repositioning could capture unmet demand and improve stabilization.
Within a 3-mile radius, demographics show essentially flat population but a 5-year increase in total households, with forecasts calling for further household growth alongside smaller household sizes. For multifamily, that combination typically signals a larger renter pool and supports occupancy stability as more single- and two-person households seek professionally managed units.
Affordability dynamics support renter reliance on multifamily housing. Neighborhood home values sit in a high-cost ownership market (top national percentile tier) with a value-to-income ratio near the upper end nationally. Combined with rising household incomes and rent growth trends, this backdrop can support pricing power and lease retention while warranting active lease management to monitor affordability pressure.
Safety indicators should be viewed in context. Compared with other neighborhoods in the Riverside San Bernardino Ontario metro, this area ranks in the higher-crime cohort (crime rank 916 of 997), and its national standing is below average for both violent and property offenses. For investors, this points to the importance of property-level security, lighting, access controls, and community engagement as part of the operating plan.
Recent trend data show a slight year-over-year improvement in estimated property offenses, which have edged down. While one-year shifts do not define a trend, ongoing monitoring and pragmatic on-site measures can help support resident retention and protect NOI.
Regional employment anchors within commuting range support renter demand, particularly for workforce and operations roles reflected below.
- Waste Management environmental services (11.3 miles)
- General Mills consumer packaged goods offices (40.8 miles)
400 N Sunrise Way comprises 118 units averaging about 1,006 square feet, offering scale in a Palm Springs neighborhood where renter concentration is strong and ownership costs are elevated. Based on CRE market data from WDSuite, neighborhood occupancy has improved over five years but remains comparatively soft, creating room for hands-on operations to capture demand. The property s 1972 vintage is older than the neighborhood s average construction year, suggesting value-add and capital planning opportunities to sharpen competitive positioning.
Within a 3-mile radius, households have increased and are projected to grow further even as household sizes trend smaller, which generally expands the renter pool and supports steady leasing. High home values relative to incomes reinforce reliance on rentals, while rising incomes and rent levels point to potential for disciplined pricing power and retention management rather than outsized concessions.
- Scale and unit size support resident mix, with strong neighborhood renter-occupied share underpinning demand
- Household growth and smaller household sizes within 3 miles expand the tenant base and support occupancy stability
- High-cost ownership market reinforces rental reliance, aiding pricing power and lease retention
- 1972 vintage presents value-add and systems upgrade potential to enhance competitiveness
- Risk: neighborhood safety ranks below metro norms and occupancy is comparatively soft; plan for security and active lease-up management