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February 22, 2019
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Indio Multifamily Property Sale Sets Record at $132k/Unit


A San Diego-based private investment group paid $16.5 mil for Parkwood Apartments at Polo Grounds, a 125-unit ($132k/unit) residential community in Indio.

Built on a 7.51-acre site in 2014, the property is located at 81777 Avenue 48 in Indio. Parkwood Apartments at Polo Grounds features lavishly outfitted units.

The community features exquisite common area amenities including a private clubhouse, library, business center, FiOS Internet / TV, community room with kitchen, and cutting-edge fitness center. Its sprawling grounds include a sparkling swimming pool and relaxing spa, exotic landscaping, mountain vistas, covered dining area with barbeques, a private nature park with designated pet area, and a resident vegetable garden.

Alex Mogharebi and Otto Ozen of TMG represented the buyer and the seller, a real estate development firm located in Orange County. According to Ozen, the transaction set a record price per unit for apartment sales in Indio.

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