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$2,100,000
Est. payment /mo
46 Beds
47 Baths
33,404 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 33,404 sqft
Price per Sqft $62
Subdivision Briarbrook
MLS Listing ID 26858531
Bedrooms 46
HOA Y/N No
Year Built 1990
Lot Size 1.570 Acres
Property Description
The seller may also consider carrying a portion of the purchase price for qualified buyers. Additionally, the seller may be willing to complete the remaining construction under a separate agreement, providing flexibility for investors seeking a more streamlined path to project completion. 545 E Hobsonway presents the opportunity to acquire a 47-unit hotel-to-multifamily last-phase conversion project located in Blythe, California. Originally constructed as a 60-key hospitality asset, the property is being repositioned into 47 residential units totaling approximately 33,404 square feet and is currently 100% vacant, providing a new owner with the ability to complete construction and implement a full lease-up strategy. Substantial progress has already been made toward the conversion, including significant electrical, plumbing, HVAC, and interior improvements. The sale also includes approximately $250,000 of construction materials already purchased and on site, allowing an investor to step into a project where a meaningful portion of both the construction work and remaining materials have already been secured. Situated along Hobsonway, Blythe's primary commercial corridor, the property benefits from strong visibility, proximity to retail and services, and convenient access to Interstate 10, connecting the market to Southern California, Phoenix, and the Coachella Valley. The property has been recently repriced, creating an opportunity to acquire a partially completed multifamily project at a basis well below replacement cost, with meaningful upside through completion and stabilization in a market supported by consistent demand for workforce and affordable housing.
Location
State CA
County Riverside
Area 374 - Blythe
Zoning C2
Interior
Heating Combination
Fireplace No
Appliance Disposal, Refrigerator
Exterior
Parking Features Assigned
Pool In Ground
Total Parking Spaces 47
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 845164001
Special Listing Condition Standard
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Listed by Manny Nunez CB Richard Ellis, Inc. #01990970
Nearby Locations
1st Class Real Estate Mavericks
Brokerage | License ID: 02245942
+1(760) 973-2550 | 1stclassmavericks@gmail.com