47 Unit Multifamily Development Opportunity | Partially Complete

Description:

545 E Hobson Way presents the opportunity to acquire a 47-unit hotel-to-multifamily conversion project in Blythe, California. Originally constructed as a 60-key hospitality asset, the property is being repositioned into 47 residential units totaling approximately 33,404 SF and is currently 100% vacant. The project is not fully complete, but substantial conversion work has already been undertaken, including significant electrical, plumbing, HVAC, and interior improvement progress, with additional materials already purchased and on site.

Situated along Hobson Way, Blythe’s primary commercial corridor, the property benefits from strong visibility, proximity to local retail and services, and convenient access to Interstate 10, connecting the market to Southern California, Phoenix, and the Coachella Valley. The asset offers investors the ability to complete the remaining scope, execute a lease-up strategy, and create value in a market supported by demand for workforce and affordable housing.





Strong Workforce Housing Rental Demand: Consistently high demand for workforce housing in Blythe driven by limited new construction.
Operational Flexibility: Potential for both market-rate and government-subsidized rental strategies.
Hotel-to-Multifamily Conversion: 47 residential units, converted from a 60-key hotel, with recent capital improvements. Certificate of Occupancy Pending.
Affordable Entry Price: Offering at a compelling basis below replacement cost.
Value-Add Upside: Additional income opportunities through improved management, utility bill-backs, and strategic upgrades.
Transportation Connectivity: Immediate access to Interstate 10, linking Southern California with Arizona markets.