| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 27th | Fair |
| Amenities | 6th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 62294 Verbena Rd, Joshua Tree, CA, 92252, US |
| Region / Metro | Joshua Tree |
| Year of Construction | 1987 |
| Units | 75 |
| Transaction Date | 2019-09-11 |
| Transaction Price | $6,500,000 |
| Buyer | QUAIL SPRINGS LLC |
| Seller | QUAIL SPRINGS VILLAGE APARTMENTS LLC |
62294 Verbena Rd Joshua Tree Multifamily Investment
Positioned in a rural pocket of San Bernardino County, this 75-unit asset offers yield-focused potential supported by modest neighborhood rents and improving crime trends, according to WDSuite’s CRE market data.
Joshua Tree’s neighborhood context is distinctly rural with sparse retail and daily-needs amenities; amenity density ranks near the bottom of the Riverside–San Bernardino–Ontario metro’s 997 neighborhoods and sits in a low national percentile. For investors, this typically points to car-dependent living and lifestyle-driven renter demand rather than convenience-led leasing.
Neighborhood occupancy is measured for the surrounding area, not this property. The neighborhood’s occupancy rate has trended up over the last five years, a constructive signal for leasing stability in an otherwise low-density market, based on CRE market data from WDSuite. Median contract rents in the vicinity remain modest relative to national midpoints, which can aid retention and support steady absorption at practical price points.
Home values are elevated versus local incomes (high national value-to-income percentile), creating a high-cost ownership market. For multifamily investors, this dynamic often sustains renter reliance on apartments and can reinforce pricing power when managed carefully.
The property’s 1987 vintage is slightly newer than the neighborhood’s average construction year. That positioning generally provides a competitive edge versus older stock, while still leaving room for targeted system upgrades or cosmetic value-add to drive rent efficiency and reduce near-term capex uncertainty.
Demographic statistics aggregated within a 3-mile radius indicate a recent population dip but a gradual shift toward smaller households. This mix can expand the addressable renter base per unit over time, though investors should plan marketing around lifestyle and workforce segments rather than walkable amenity appeal.
Safety conditions compare competitively among Riverside–San Bernardino–Ontario neighborhoods and land slightly above the national median, according to WDSuite’s CRE market data. Recent year-over-year declines in both violent and property offense estimates point to improving momentum rather than deterioration. As always, block-level variability exists, so underwriting should rely on submarket and neighborhood trend comparisons rather than isolated incidents.
Employment access skews regional rather than hyper-local, supporting renter demand tied to service, logistics, and municipal contractors. Nearby institutional presence is limited but does offer stable blue-collar employment within commuting distance, including the following employer.
- Waste Management — waste services (27.4 miles)
This 1987, 75-unit property offers a pragmatic value-add and yield thesis in a rural desert submarket where neighborhood rents are modest and ownership is relatively high-cost versus incomes. According to CRE market data from WDSuite, neighborhood occupancy has improved over the past five years, and crime measures have trended better year over year—factors that can support leasing stability when paired with disciplined operations.
Within a 3-mile radius, population has softened but household sizes are edging smaller, suggesting a steady need for rental options even as amenity access remains limited. The asset’s slightly newer vintage than the local average provides a competitive base; targeted renovations and operational upgrades can position units to capture demand from renters who prioritize price-to-space and regional job access over walkable conveniences. Key risks include car-dependence, thin amenity density, and potential competition from single-family ownership as incomes rise.
- Modest neighborhood rents support retention and steady absorption
- 1987 vintage offers value-add runway versus older local stock
- Improving neighborhood safety trends and recent occupancy gains aid stability
- Regional employment access underpins workforce-oriented renter demand
- Risks: car-dependent location, sparse amenities, and ownership competition as incomes rise