46595 Vargas Road
Indio, CA, 92201 $ 8,400,000
Baths1.0 Sq 29,376 Monthly Estimate*
$ 53,038
Listed by CB RICHARD ELLIS
Studio for $8,400,000 with 1 full bath. This 29,376 square foot home was built in 1982 on a lot size of 2.44.
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.
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FeaturesGeneralSewer Public Sewer
Heating Central
Cooling Central Air
Garage Spaces 0
Pool Features None
Year Built 1982
Stories Count 1
Levels One
Property Subtype Apartment
Gross Income 919860
Community Features Curbs Sidewalks
Additional Parcels Description through 612-064-052
County Riverside
Net Operating Income 555045
Operating Expense 318822
Insurance Expense 15000
New Construction false
Property Type Residential Income
Garage Y/N false
Special Listing Conditions Standard
Status Active
Directions 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
City Indio
Entry Location 1
Senior Community Y/N false
Open Parking Spaces 68
Number Of Units Total 51
MLS Area 311 - Indio Central
Lot Size Units Square Feet
Lot Size Square Feet 106286
Number of Units Leased 51
Listing Terms Cash Cash to New Loan
Spa Features None
Property Attached Y/N true
Land Lease Y/N false
Electric Expense 3318
Fuel Expense 1002
Trash Expense 14971
Water Sewer Expense 11575
Additional Parcels Y/N true
Rent Control Y/N false
Building Area Units Square Feet
Standard Status Active
Year Built Source Assessor
Tax Lot 1
Total Actual Rent 901860
Property Sub Type Additional Apartment
Taxes 134918
Cap Rate 6.61
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InteriorTotal Stories 1
Common Walls 2+ Common Walls
Air Conditioning Y/N true
Heating Y/N true
Laundry Features Common Area
Entry Level 1
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ExteriorLot Features Lot Over 40000 Sqft
Water Source Public
Total Parking 68
Lot Size Area 106286
Number of Buildings 12
Spa false
Building Area Total 29376
Lot Size Acres 2.44
Private Pool false
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 51
Number of Separate Electric Meters 51
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $53,038
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Indio, CA
Average List Price $1,112,158
Percent of Sale Price 87%
About Indio, CA 89,268 Population
69% Since 2002
$ 50,199 Median Income
34.96 Median Age
34% Households with Children
Trends Information provided by ATTOM Data Solutions.
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 7/30/2026 | $8,400,000 | | Listed Price |
46595 Vargas Road, Indio, CA, 92201 is a Multi-Family Home for sale at $8,400,000 with 29,376 sqft and a lot size of 2.44. 46595 Vargas Road is a studio with 1.0 baths and was built in 1982. The property's zip code is 92201 which is in Indio, CA