Just closed escrow on 5 fabulous units in South Palm Desert. These units were in great condition, older with lots of charm. Beautiful courtyard and the new owner from Los Angeles is very satisfied with these units.
Cap rate was a 4 which may seem low, however this is the going rate for quality units in the Coachella Valley in a storng rental area. Multi-Family in Palm Desert remains a very strong investment for long term investors. Where else can you earn 4% solid on your investment with future appreciation also possible? Multi-Family units in the Coachella Valley are still selling for under replacement cost.