The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 6, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



INLAND EMPIRE NEWS
Printer-friendly Version   Email an Associate
Indio Apartment Complex Traded by Investors in $3.4 Mil Deal

8/01/19

A 33-unit apartment complex in Indio was purchased for $3.38 mil ($102k/unit) all-cash by a private investor. The buyer is an experienced multifamily investor who owns other buildings in Indio and several thousand units throughout the U.S.

The gated property totals 28.9k sf and is located at 45601 Monroe St. It features a mix of two studios, one one-bedroom and 30 two-bedroom units as well as a swimming pool.

Cray Carlson and Kevin Sin of CBRE represented both parties in the deal. The seller exchanged into two single tenant triple-net-lease properties with little to no management.

“Indio is the third-fastest growing city in Southern California; and the Low Desert continues to be a great alternative for LA, OC & San Diego buyers, based on the upside in rents and stellar location,” said Carlson. “The seller was tired of property management and traded into a triple net property, which made it a great outcome for both parties.”

The Inland Empire multifamily market remained healthy in the first quarter, with a favorable vacancy rate and very strong rent growth, according to CBRE research. Construction activity continued to rise with completions totaling 1,555 units for the year ending in Q1 2019 -- up by more than triple from the preceding four quarters. Nevertheless, demand in the Inland Empire exceeded new supply with 1,445 units absorbed over the same time period.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media