46595 Vargas Rd

Indio, CA 92201

$8,400,000
Price
1
Bed
51
Baths
29,376 Sq. Ft.
$286 / Sq. Ft.
29,376
Sq. Ft.
$286
per Sq. Ft.
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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...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.
  1. Listed by Eric Chen • DRE #C32772 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717

Property Details for 46595 Vargas Road

Parking Spaces Total
68
Private Pool
No
Cooling Type
Central Air
Total Units
51.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
29376
Assessor Parcel Number
612-064-001
LISTING UPDATED: 07/29/2026 10:33 AM

Property Details for 46595 Vargas Road

StatusActive
MLS #CV26165757
Days on Market1
Pet Policy-
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Res Income 2-4 Units
Year Built1982
CountyRiverside County
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Location

Listing Courtesy of CB RICHARD ELLIS, Eric Chen, DRE #C32772
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Building Information for 46595 Vargas Road

Building/Complex46595 Vargas RdFloor-Stories1Residences-Pet Policy-Pet Policy Details-Year Built1982Building Size-

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$42,696 per month

30 year fixed, 6.55% Interest

Principal and Interest

$42,696

Property Taxes

$0

HOA Dues

$0

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Property Information for 46595 Vargas Road

Income / Expense / Tax Details
Income Details
  • Gross Income: $919,860
  • Gross Scheduled Income: $919,860
  • Vacancy Allowance: 45993
  • Gross Operating Income: $873,867
  • Net Operating Income: $555,045
  • Laundry Income: $18,000
  • Gross Multiplier: 9.13
  • Cap Rate: 6.61
Expense Details
  • Operating Expense: $318,822
  • New Taxes Expense: $134,918
  • Gardener Expense: $10,800
  • Fuel Expense: $1,002
  • Pest Control Expense: $1,356
  • Electric Expense: $3,318
  • Insurance Expense: $15,000
  • Professional Management Expense: $63,477
  • Other Expense: $10,200
  • Other Expense Description: Reserves
  • Trash Expense: $14,971
  • Water Sewer Expense: $11,575
  • Supplies Expense: $13,955
  • Total Expenses: $318,822
Tax / Assessment Info
  • Tax Tract Number: 14976
  • Tax Census Tract: 049502
  • CFD/Mello-Roos Fee: $583
  • Tax Lot: 1
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
  • Spa Features: None
  • Spa Heat: N/K
Land/Lot Info
  • Additional Parcels Description: through 612-064-052
  • Lot Features: Lot Over 40000 Sqft
  • Number Of Units: 51
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 68
  • Open Other Spaces Total: 68
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 51
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,474
  • Unit Type Total Rent: $901,860
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 51
  • Rent Controlled: No
  • Number Of Buildings: 12
  • Number Of Separate Electric Meters: 51
  • Number Of Separate Gas Meters: 51
  • Number Of Separate Water Meters: 1

Property History for 46595 Vargas Road

DateEvent & SourcePriceAppreciation
Jul 29, 2026

Listed (Active)

CRMLS #CV26165757

$8,400,000—
Jul 29, 2026

Listed (Active)

CLAW #CV26165757MR

$8,400,000—
Jul 29, 2026

Listed (Active)

SDMLS #CV26165757

$8,400,000—
DateEvent & SourcePrice
07/29/2026

Listed (Active)

CRMLS #CV26165757

$8,400,000
07/29/2026

Listed (Active)

CLAW #CV26165757MR

$8,400,000
07/29/2026

Listed (Active)

SDMLS #CV26165757

$8,400,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 46595 Vargas Road

Taxable ValueLand-Additions-Total-
Home Facts
Lot Size106,286 SqFtStyleMiscellaneousZoningR3CountyRIVERSIDEAPN612-064-052

Schools near 46595 Vargas Road

This home is within Desert Sands Unified School District.
Rating
School
Type
Grades
Distance
Theodore Roosevelt Elementary School
Public - K to 5
Thomas Jefferson Middle School
Public - 6 to 8
Indio High School
Public - 9 to 12
Desert Sands A.T.L.A.S.
Public - 12
Rating
School
Distance
Theodore Roosevelt Elementary School
PublicK to 5

Thomas Jefferson Middle School
Public6 to 8

Indio High School
Public9 to 12

Desert Sands A.T.L.A.S.
Public12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 46595 Vargas Road, Indio, CA 92201

46595 Vargas Road is a multi-family home for sale in Indio, CA 92201. This property was listed for sale on July 29, 2026 by CB RICHARD ELLIS, it's currently listed at $8,400,000. This listing's school district is Desert Sands Unified School District. Nearby schools include Theodore Roosevelt Elementary School, Thomas Jefferson Middle School and Indio High School. 46595 Vargas Road is a 1-bed, 51-bath, 29,376 sqft multi-family home built in 1982.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CB RICHARD ELLIS, Eric Chen, DRE #C32772

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.