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Millman Team Real Estate

$8,400,000
2.44 Acre Lot

46595 Vargas Road, Indio, California 92201

  • Residential Income Property Type
  • 1982 Year Built
Property Description

We are pleased to exclusively present a distinguished multifamily investment opportunity at Casa Serena Apartments, 46595 Vargas Road in Indio, CA, offering a strong in-place income stream in the heart of the Coachella Valley. This well-maintained 51-unit garden-style community provides residents with direct access to the I-10 Freeway and Highway 111 retail corridor, and proximity to the world-famous Empire Polo Grounds and Coachella Valley Music & Arts Festival. Situated on a ±106, 286 SF lot, Casa Serena features ±29, 376 SF of rentable space across 51 one-bedroom/one-bathroom floor plans averaging a generous 576 SF each. Select units have been brand new remodeled with dark cabinetry, granite-style countertops, luxury vinyl wood plank flooring, and new tub and shower surrounds. Open-concept island kitchens offer a breakfast bar, electric stove and range with hood, and ample cabinet storage. Each unit includes walk-in closets, double-pane windows, private individual patios, and central air and heating — all on one story with no neighbors above or below. Common areas feature an on-site laundry facility, lush mature landscaping, a beautifully maintained courtyard, and surface parking, with full-time on-site property management and maintenance staff. Indio’s economy is anchored by a dynamic mix of hospitality, gaming, government, healthcare, and retail. Top employers include Fantasy Springs Resort Casino, Spotlight 29 Casino, the City of Indio, Desert Regional Medical Center, and the College of the Desert — driving a stable, diverse employment base across the Coachella Valley. As the secondary seat of Riverside County government, Indio supports thousands of public sector jobs. Tourism adds powerful economic strength, with nearly 1.4 million annual visitors drawn to the Coachella Valley Music & Arts Festival, the Empire Polo Grounds, and the National Date Festival — sustaining a consistent and resilient tenant base year-round. Casa Serena Apartments is a stable income-producing asset in the Coachella Valley, promising a strong return on investment in one of Southern California’s most rapidly growing communities. Whether you are a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value.

Basic Details
Residential Income
For Sale
CV26165757
$8,400,000
1982
2.44 Acre
Active
1
Apartment
Features
: None
: Central
: Central Air
: Common Area
: Public Sewer
$0
Address Map
CA
Riverside
Indio
92201
Vargas
46595
Road
W117° 47' 20.1''
N33° 42' 37.4''
Merge onto I-10 E, Take exit 144 for Golf Ctr Pkwy, Turn right onto Golf Center Pkwy, Turn left onto CA-111 S, Turn right onto Calhoun St, Turn right onto Vecino Way, Turn right onto Vargas Rd
311 - Indio Central
Additional Information
$0
$0
$0
$0
$0
29376
: Sidewalks, Curbs
1
: One
: Lot Over 40000 Sqft
51
2026-07-29
1
1
: Public
Broker/Agent Information
CB RICHARD ELLIS
Eric Chen
Listing Information
C32772
1177
Cash, Cash to New Loan
Active
2026-07-30T00:34:48Z
CRMLS
: Standard
2026-07-29T17:26:09Z
Agent info
Ray Millman
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