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Los Angeles Buyer Claims Joshua Tree’s Largest MF
Los Angeles-based Pro Residential acquired Quail Springs Village, a multifamily property in Joshua Tree, CA for $6.5 million. Located at 62220 Verena Rd., the 75-unit complex features all two-bedroom, two-bathroom units, and is the largest complex in the Joshua Tree submarket.
CBRE’s Cray A. Carlson and Kevin Sin represented the buyer. The seller, Susan Highland, was also represented by Carlson and Sin.
Sin says, “The buyer was able to acquire this turnkey asset which presents huge upside. There is room for a large rent increase and for the new buyer to drastically reduce expenses.”
Added Carlson, “Quail Springs Village is the largest multifamily property to close in the Morongo Basin area ever, and it is the only non-affordable property over 50 units to sell.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




