|The Andorra apartments, a 186-unit multifamily property located at 81720 Ave 46 in Indio, sold for $12.025 mil ($64.7k/unit). The property generated 15 offers and was ultimately sold to an all-cash buyer.
Andorra, built in 1987, features all two-bedroom / two-bath units averaging about 1.1k sf in size. Community amenities include three swimming pools, four spas, a recreation room, and a fitness center.
Andorra is located close to public transportation, shopping, schools, and services. The Indio Fashion Mall is close by, with major employers within a short commute of the property. Highway 111 is just a block away, and the 10 Fwy is just minutes to the north.
The buyer, ROC | Bridge Partners, plans to renovate and then place long-term financing on the asset. Alex Mogharebi of the Ontario office of Hendricks & Partners represented the seller, The Situs Companies.