Casa Serena Apartments — Sale in Indio, CA
- Price: $8.4M
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Indio, CA 92201
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Description
Casa Serena Apartments | 51 Units in Indio | 6.61% Cap Rate CBRE is pleased to exclusively present a distinguished multifamily investment opportunity at Casa Serena Apartments, 46595 Vargas Road in Indio, CA, offering a strong in-place income stream in the heart of the Coachella Valley. This well-maintained 51-unit garden-style community provides residents with direct access to the I-10 Freeway and Highway 111 retail corridor, and proximity to the world-famous Empire Polo Grounds and Coachella Valley Music & Arts Festival. Currently generating a 6.61% cap rate with an 8.78% pro forma cap rate, the property presents an exceptional opportunity to capture up to 22% in rental upside potential by raising rents to market rates. Property Highlights Situated on a ±106,286 SF lot, Casa Serena features ±29,376 SF of rentable space across 51 one-bedroom/one-bathroom floor plans averaging a generous 576 SF each. Select units have been brand new remodeled with dark cabinetry, granite-style countertops, luxury vinyl wood plank flooring, and new tub and shower surrounds. Open-concept island kitchens offer a breakfast bar, electric stove and range with hood, and ample cabinet storage. Each unit includes walk-in closets, double-pane windows, private individual patios, and central air and heating — all on one story with no neighbors above or below. Common areas feature an on-site laundry facility, lush mature landscaping, a beautifully maintained courtyard, and surface parking, with full-time on-site property management and maintenance staff. Strategic Location & Connectivity IIndio sits at the crossroads of the Coachella Valley, offering residents direct I-10 Freeway access and the Highway 111 retail corridor connecting to virtually every Coachella Valley city center. Residents enjoy convenient access to the El Paseo Shopping District in Rancho Mirage — the desert’s premier luxury retail destination — as well as the boutiques, dining, and nightlife lining historic Palm Canyon Dr
Market Context
This multifamily in Indio, CA is listed for sale at $8,400,000. Compare it against other multifamily listings for sale in Indio, CA — view the full market.
Contact
- Eric Chen · 909 418 2071 · eric.chen@cbre.com
- Blake Torgerson · 909 418 2074 · blake.torgerson@cbre.com
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