A 48-unit apartment complex in Coachella was recently sold for a record price in the city.
The Valle Vista complex, at Tripoli Way and Cairo Street, closed for $5.3 million, or $111, 979 per unit. According to IE Business Daily, that is the highest price-per-unit ever paid for a multifamily property in the city of Coachella. A lack of available multifamily properties in the area was one of several factors that led to the record price.
The complex was originally built in the 1960s and has 12 fourplex structures – with one, two, and three bedroom plans available.
The buyer was only identified as “a local private investment group.”