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CATHEDRAL CITY, CA-A 135-unit apartment complex in Cathedral City has been purchased by a Southern California-based partnership, known as Ocotillo Associates.

The buyer has paid nearly $9.2 million for the multifamily property, which translates as $67,777 per unit. The complex, which is called Ocotillo Apartments, stands at 69155 Dinah Shore. Built in 1986, it contains a varied range of floor plans. The unit mix consists of 32 one-bedroom, one-bathroom units, with 16 encompassing 870 sf and the other half encompassing 900 sf, as well as 103 two-bedroom, two-bath units. Of the two-bedroom, two-bathroom units, 56 encompass 1,180 sf and 47 encompass 1,200 sf.

Alex Mogharebi of Marcus & Millichap Real Estate Investment Brokerage Co. acted on behalf of the buyer and the seller, Steadfast Ocotillo LP.

The Inland Empire apartment market continues to attract strong interest from commercial real estate investors, as the value of multifamily product here is still rising. A steady increase in the area’s population, coupled with the rising cost of homes, has kept the region’s multifamily market on an even keel.

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