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Peter Wang Acquires Palm Desert Multifamily For $8.8M With Reps Cray Carlson & Kevin Sin

45325 Panorama Drive & 74550-74610 Shadow Hills Road
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This MultiFamily property located in CA was sold for $8,825,000 over 3 years ago. The brokers of the deal were Kevin Sin and Cray Carlson

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.

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Deals
  • Location
    45325 Panorama Dr, Palm Desert, CA, USA45325 Panorama Dr, Palm Desert, CA, USA
  • Sale Price
    $8,825,000$8,825,000
    $227 PPSF$227 PPSF
  • Area
    38,856 SF38,856 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Kevin Sin

Kevin Sin

Deals6
Sold$36.4M

Cray Carlson

Cray Carlson

Deals13
Sold$104.9M

Agency

CBRE

CBRE

Agency
Deals4229
Volume$184.3B

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Deal Summary

SALE IMAGE: Cray Carlson & Kevin Sin DATE: 07/01/2021 ADDRESS: 45325 Panorama Dr. & 74550-74610 Shadow Hills Rd. MARKET: Palm Desert ASSET TYPE: Multifamily BUYER: Peter Wang SELLER: Peter Lambert BROKERS: Cray Carlson & Kevin Sin SALE PRICE: $8,825,000 UNITS: 55 ~ PPU: $160,454 SF: 38,856 ~ PPSF: $227 CAP: 4.00%

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45325 Panorama Drive & 74550-74610 Shadow Hills Road

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