Dr. Tae Kim Acquires Multifamily Property In Palm Springs For $1.94M

Located in Palm Springs, the property at 1020 & 1044 North Indian Canyon Drive recently changed hands in a multifamily asset transaction. The sale, which took place on 03/31/2021, involved a total of 22 units, with each unit having a price per unit (PPU) of $88,202. The property spans across 7,684 square feet, equating to a price per square foot (PPSF) of $252. The sale price was recorded at $1,940,450, slightly below the asking price of $1,970,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,940,450
• Units: 22
• Price Per Unit (PPU): $88,202
• Square Footage (SF): 7,684
• Price Per Square Foot (PPSF): $252
• Market: Palm Springs

Dr. Tae Kim acquired the property, acting as the buyer in this transaction. Represented by Stephanie Ko, Dr. Tae Kim's purchase was brokered by Scott Furman, who is affiliated with Furman Investment Corp. The buyer's representative, Stephanie Ko, played a key role in facilitating the transaction. Meanwhile, the seller, Gabriel Jones, was represented by Scott Furman himself.