Garden-Style Multifamily
For Sale
$8,400,000
46595 Vargas Road, Indio, CA 92201
Well-maintained 51-unit, one-story community with private patios, on-site laundry, and surface parking.
Property Size29,376 SF
Lot Size2.44 Acres
Price / SF$285.95
Days on Market94
Property Features for 46595 Vargas Road
General Information
Standard status
Active
Size
29,376 SF
Lot size
2.44 Acres
Property subtype
Multifamily
Financials
Cap Rate
6.61%
Business Included
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
51
Building Details
Stories
1
Tenancy
Multi
Listing Agency:
CB RICHARD ELLIS
Listed By:
Eric Chen · License #01489184
(909) 418-2071
Source:
Cbre
Added: Jul 13
Changed: Oct 12
Last Checked: Oct 12 at 5:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CB RICHARD ELLIS
Investment Insights
Based on property information with market context.
Casa Serena Apartments is a well-maintained, one-story garden-style multifamily community with 51 one-bedroom, one-bathroom floor plans. The residences include private individual patios, walk-in closets, double-pane windows, and central air and heating. Select units have been newly remodeled with updated dark cabinetry, granite-style countertops, luxury vinyl wood plank flooring, and new tub and shower surrounds, along with open-concept island kitchens featuring a breakfast bar and an electric stove and range with hood.
On-site amenities include a laundry facility, a maintained courtyard, mature landscaping, and surface parking. Full-time on-site property management and maintenance staff support the community.
The property is situated on a 106,286 SF lot and includes 29,376 SF of rentable space. The community provides direct access to the I-10 Freeway and the Highway 111 retail corridor.
On-site amenities include a laundry facility, a maintained courtyard, mature landscaping, and surface parking. Full-time on-site property management and maintenance staff support the community.
The property is situated on a 106,286 SF lot and includes 29,376 SF of rentable space. The community provides direct access to the I-10 Freeway and the Highway 111 retail corridor.
Key Highlights
- 51‑unit, one‑bedroom/one‑bath garden‑style apartment community with 51 private patios and no neighbors above or below.
- Rentable space totals 29,376 SF on a 106,286 SF lot; units average 576 SF each and feature central air and heating.
- Select units newly remodeled with dark cabinetry, granite‑style countertops, luxury vinyl wood plank flooring, and new tub and shower surrounds.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$475,495
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,509,900
$9.5M
Cap Rate 7%
$6,792,786
$6.8M
Cap Rate 9%
$5,283,278
$5.3M
Market Conditions
NOI Build-Up for 29,376 SF
Gross rent
$881.3K $30.00/SF
− Vacancy
−$16.7K −$0.57/SF
EGI
$864.5K $29.43/SF
− OpEx
−$389.0K −$13.24/SF
NOI
$475.5K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,509,900
Cap Rate 7%
$6,792,786
Cap Rate 9%
$5,283,278
Alternative Uses
Best Use
Apartment 5plus
$6.79M
$5.94M – $7.92M
NOI $475,495 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.80M
$7.70M – $10.27M
NOI $616,039 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
51
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 92201, CA
66,989
Population
26,241
Households
2.6
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
16.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$66,663
Median Household Income
$35,527
Median Earnings
$1,349
Median Rent
$372,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 51-unit, one-story community with private patios, on-site laundry, and surface parking.
Where is this apartment building located?
The property is located at 46595 Vargas Road Indio, CA.
What is the asking price?
The asking price for this property is $8,400,000.
What are key features of this property?
This property features: 51‑unit, one‑bedroom/one‑bath garden‑style apartment community with 51 private patios and no neighbors above or below.; Rentable space totals 29,376 SF on a 106,286 SF lot; units average 576 SF each and feature central air and heating.; Select units newly remodeled with dark cabinetry, granite‑style countertops, luxury vinyl wood plank flooring, and new tub and shower surrounds.
