Updated Dec 21, 2023
Peter Wang Acquires Palm Desert Multifamily For $8.8M With Reps Cray Carlson & Kevin Sin
45325 Panorama Dr, Palm Desert, CA, USA
$8,825,000
$227/SF
Building Size
38,856 SF
Asset Type
MultiFamily
Closing
Jul 1, 2020
About this deal
AI
A multifamily property located at 45325 Panorama Dr. & 74550-74610 Shadow Hills Rd. in Palm Desert has been sold for a price of $8,825,000. The property consists of 55 units with an average price per unit of $160,454. The total square footage of the property is 38,856, resulting in a price per square foot of $227. The sale was closed on July 1, 2021, and the capitalization rate for the property is 4.00%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,825,000
- Address: 45325 Panorama Dr. & 74550-74610 Shadow Hills Rd., Palm Desert
- Market: Palm Desert
- Units: 55
- Price Per Unit: $160,454
- Square Footage: 38,856
- Price Per Square Foot: $227
- Capitalization Rate: 4.00%
The buyer of the property is Peter Wang, whereas Peter Lambert is the seller. The deal was facilitated by brokers Cray Carlson and Kevin Sin.
On the Map
$8,825,000
$227/SF
MultiFamily
View full map
Players
Palm Desert MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Kevin Sin to view all their deals.
Browse California multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.80%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93