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
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.
Players
Palm Desert MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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