The Pines Apartments Located Behind El Paseo in Palm Desert has sold for $2,750,000.

PALM DESERT, CA, UNITED STATES, January 14, 2025 /EINPresswire.com/ -- James Carter, Senior Managing Partner/Broker and Angelo La Bruna, Senior Vice President of Apartment Realty Group (ARG) represented the seller and the buyer in the sale of The Pines Apartments, a 16-Unit multifamily community located adjacent to the El Paseo Shopping District in Palm Desert, CA. Located at 73170 Tumbleweed Ln Palm Desert, CA 92260, the property consists of sixteen (16) 1Bedroom / 1Bathroom units and is situated on 27,878sf lot including 9,376sf of rentable building space. Property amenities include onsite laundry, a community swimming pool, and covered parking in the rear of the property.

"This asset drew substantial interest due to it's great location near El Paseo and the potential upside in rent. The seller was executing a 1031 Exchange and we ultimately procured a buyer who was agreeable to extended escrow timelines in order to provide the seller the peace of mind she needed to successfully complete her exchange." said Carter. The final closing price was $2,750,000.

James Carter & Angelo La Bruna
Apartment Realty Group
+1 858-859-1031
email@arg1031.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.