IE Business Daily Business news for the Inland Empire.
A 74-unit apartment complex in Indio has been sold for $14.1 million
Vintage Palms Apartments was purchased recently by a private investor whose name was not released, according to CBRE.
The complex, at 82435 Requa Ave., near Highway 111, has controlled access, on-site laundry, a swimming pool, playground, grill and picnic area, and a basketball court.
Units are exclusively two-bedroom, and each has a balcony or patio.
“Indio is one of the fastest-growing cities in Southern California,” said Cray A. Carlson, senior vice president with CBRE, in the statement.
“Coachella Valley apartment sales prices have exploded in 2021, a trend that is continuing in 2022. Rental demand continues to be tremendously strong.”
CBRE represented both parties in the negotiations. Both wished to remain anonymous.
