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CBRE Handles 33-Unit Indio Apartment Asset Sale
A 33-unit apartment complex in Indio, CA was acquired by an unnamed private investor for $3.38 million in cash. CBRE’s Cray Carlson and Kevin Sin represented the local buyer, an experienced multifamily investor that owns other buildings in Indio and several thousand units throughout the U.S. The undisclosed seller exchanged into two single tenant triple-net-lease properties with little to no management.
The gated 33-unit property is located at 45601 Monroe St., and totals 28,920 square feet. The asset features a mix of two studios, a one-bedroom, and 30 two-bedroom units, as well as a swimming pool.
Carlson says, “Indio is the third-fastest-growing city in Southern California; and the Low Desert continues to be a great alternative for L.A., O.C. & San Diego buyers based on the upside in rents and stellar location. The seller was tired of property management and traded into a triple net property, which made it a great outcome for both parties.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




