45304-45352 Park Street — Sale in Indio, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Indio, CA 92201

Photos

45304-45352 Park Street — Sale in Indio, CA, photo 1 of 8
45304-45352 Park Street — Sale in Indio, CA, photo 2 of 8
45304-45352 Park Street — Sale in Indio, CA, photo 3 of 8
45304-45352 Park Street — Sale in Indio, CA, photo 4 of 8
45304-45352 Park Street — Sale in Indio, CA, photo 5 of 8
45304-45352 Park Street — Sale in Indio, CA, photo 6 of 8
45304-45352 Park Street — Sale in Indio, CA, photo 7 of 8
45304-45352 Park Street — Sale in Indio, CA, photo 8 of 8

Investment Figures

Cap rate
6.35%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 45304 & 45352 Park Street, a rare side-by-side, two-parcel apartment offering totaling eight units in the heart of Indio, California. Constructed in 1958 and situated on a combined ±13,940-square-foot lot, the offering consists of two adjacent four-plex buildings delivered together as a single, contiguous investment. All eight units are identical two-bedroom, one-bathroom floor plans of approximately 600 square feet, single-story throughout. The buildings are single-story and pitched-roof construction. Each unit is individually metered for both gas and electricity and served by its own individual water heater. All windows throughout both buildings have been replaced, and all units have tile flooring. Select units have already been remodeled and majority have in-unit laundry hook-ups. Parking consists of carports and half the units have private patios. Indio is the largest and fastest-growing city in the Coachella Valley and eastern Riverside County, with a population of approximately 93,000 to 95,000 year-round residents and an additional seasonal population of roughly 30,000 during the winter months. Indio ranks as the No. 3 fastest-growing city in Southern California, the No. 8 fastest-growing city in California, and the No. 30 fastest-growing city in the United States — growth metrics that place it in rare company among established Southern California municipalities. Known nationally as the "City of Festivals," Indio hosts the Coachella Valley Music and Arts Festival and the Stagecoach Country Music Festival at the Empire Polo Club, drawing hundreds of thousands of attendees annually and generating one of the largest event-driven economic impacts of any city in California. Indio is ranked the No. 1 city in America for live music and the No. 2 emerging travel destination in America and welcomes nearly 1.4 million visitors each year. For an apartment owner, this festival and tourism economy translates directly into sustained

Market Context

This multifamily in Indio, CA is listed for sale. It is offered at an approximate 6.3% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Indio, CA — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in Indio, CA