News & Views

News & Views

Cathedral City Apartment Property Sells for $156k/Unit

Nov. 16, 2018
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Cathedral City Apartment Property Sells for $156k/Unit

A private investment group out of Riverside has purchased Presidio Park in Cathedral City, a
45-unit community in Cathedral City, for $7 mil, or $155.6k/unit. It was sold by a family partnership located in Cathedral City.

Built in 1987 and recently remodeled, Presidio Park is a two-story property located on Gerald Cord Drive. The complex comprises four residential buildings totaling 45.3k sf on just over three acres. The property boasts a swimming pool, tennis court, outdoor picnic area with BBQs, laundry facilities, and covered parking.

Otto Ozen and Mike Marcu with The Mogharebi Group represented both parties in the transaction.