| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 68th | Best |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 900 E Saturnino Rd, Palm Springs, CA, 92262, US |
| Region / Metro | Palm Springs |
| Year of Construction | 1978 |
| Units | 78 |
| Transaction Date | 2014-12-23 |
| Transaction Price | $7,500,000 |
| Buyer | San Jacinto 78 LP |
| Seller | San Jacinto Racquet Club LP |
900 E Saturnino Rd Palm Springs Multifamily Investment
Positioned in a high-cost ownership market with steady renter demand drivers, this 78-unit asset offers value-add potential and income durability according to WDSuite’s CRE market data. Neighborhood-level occupancy trends and amenities suggest a renter pool supported by convenience retail and dining, with scope to differentiate through targeted upgrades.
Located in Palm Springs (Riverside–San Bernardino–Ontario metro), the neighborhood ranks 142 out of 997 metro neighborhoods, which is competitive among Riverside–San Bernardino–Ontario neighborhoods. Dining and daily-needs access are strong: restaurants and pharmacies track in the top quartile nationally, while grocery access sits above the national average; parks and cafes are limited, which tilts convenience toward commercial corridors rather than recreational greenspace.
The property was built in 1978. The neighborhood s average construction vintage skews newer, which implies this asset may face older-system capex and presents a clear path for value-add upgrades (exteriors, common areas, and energy systems) to compete with younger stock. Renter-occupied housing comprises roughly one-third of units at the neighborhood level, indicating a moderate renter concentration that supports depth of demand for multifamily.
Within a 3-mile radius, households increased over the last five years and are projected to continue rising through 2028 even as average household size trends smaller. This combination typically expands the tenant base and supports occupancy stability for well-managed properties. Median incomes have moved higher and are projected to continue growing, while rents remain manageable relative to incomes, reinforcing retention and lease-up prospects based on commercial real estate analysis from WDSuite.
Home values in the neighborhood are elevated versus national benchmarks, and the value-to-income ratio sits in the top quartile nationally. In investor terms, a higher-cost ownership landscape tends to sustain reliance on rental housing and can support pricing power for renovated product, provided operators manage affordability pressure and offer differentiated finishes, amenities, or services.
Neighborhood safety indicators trend below national averages, and the area ranks toward the bottom among 997 metro neighborhoods on crime metrics. That said, WDSuite data shows property offense rates have improved year over year, suggesting some recent momentum in the right direction. Investors should underwrite with conservative security and operating assumptions and track submarket trendlines rather than block-level conclusions.
Regional employment is anchored by corporate offices within commuting range, supporting renter demand through diversified white- and blue-collar roles reflected in Waste Management and General Mills.
- Waste Management corporate offices (11.6 miles)
- General Mills corporate offices (40.2 miles)
This 1978 vintage, 78-unit multifamily offers a straightforward value-add thesis in a neighborhood that is competitive within the metro and benefits from strong dining/pharmacy access and elevated for-sale housing costs. According to CRE market data from WDSuite, neighborhood-level renter concentration is sufficient to support demand, and 3-mile household growth alongside shrinking household sizes points to a larger tenant base over time. Modernizations can position the asset against newer competitive stock while leveraging rent-to-income dynamics that support retention for appropriately priced units.
Key risks to underwrite include below-average neighborhood safety metrics and softer neighborhood-level occupancy, which argue for conservative lease-up timing, security investments, and targeted amenity upgrades. If executed, the combination of value-add scope and sustained renter reliance on multifamily can support durable cash flows relative to older peers.
- Value-add upside: 1978 vintage creates room for unit, system, and curb-appeal upgrades versus newer neighborhood stock.
- Demand drivers: elevated ownership costs and moderate renter concentration support tenant depth and pricing power.
- Household growth: 3-mile households increased and are projected to rise further, expanding the renter pool even as household sizes decline.
- Location convenience: strong access to restaurants, pharmacies, and groceries supports daily-living appeal.
- Risks: below-average neighborhood safety and softer neighborhood occupancy warrant conservative underwriting and enhanced onsite security/amenities.