Apartment Investment Heats Up in Indio

A private and experience apartment owner in the Inland Empire has acquired a 33-unit apartment complex in Indio, the third fastest growing city in Southern California. The property traded hands for $3.9 million, and the seller traded into two single-tenant triple net lease assets.

Located at 45601 Monroe Street, the apartment complex totals 28,920 square feet and features two studios, a one-bedroom apartment and 30 two-bedroom units as well as a swimming pool.

Cray Carlson and Kevin Sin of CBRE represented the local buyer and the seller in the deal.