15-Unit Coachella Valley Portfolio Trades for $4M
CBRE’s Kevin Sin and Cray Carlson have facilitated a $4 million transaction involving three separate multifamily residential properties in Palm Springs, CA and Bermuda Dunes, CA. The buyer was a private local investor.
The portfolio was used as a Senior Living Care Community, but had been converted back into multifamily use at the time of the sale. All three sites consist of 2-bedroom, 2-bathroom units measuring approximately 1,000 square feet.
“Demand for housing in Southern California continues to reach records,” said Sin in a news release. “That includes the desert communities as economic growth in the greater Inland Empire market continues to fuel demand for apartments. Hospitality has also made a huge comeback in the region, increasing the need for rental housing.”
- ◦Sale/Acquisition
