Partially Completed Multifamily Conversion
545 E Hobsonway, Blythe, CA 92225
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47-unit multifamily conversion with a clear path to stabilization.
Type:Land, Multifamily
Property size:
33,404 SFPrice / SF:
$62/SF- Added:
- Mar 18, 2026
- Days on Market:
- 55
- Last Refresh:
- Mar 20 at 12:22 am
Property Features for 545 E Hobsonway
General Information
- Standard status
- Active
- Size
- 33,404 SF
- Property subtype
- Land, Multifamily
Building Details
- Year Built
- 1990
Listing agent Manny Nunez License #CA 01990970
Listing office CBRE - Downtown Los Angeles (310) 925-2551
Listing date Mar 18, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Downtown Los Angeles
HighLights
- Partially completed 47‑unit multifamily conversion allows for immediate project continuation.
- Significant capital‑intensive work already completed including electrical, plumbing, HVAC, and interior improvements.
- $260,000 of materials already purchased and on‑site.
- Project completion estimated at $950,000, resulting in a basis below replacement cost.
- Projected $475,000 gross income upon completion, supported by market rental comps.
- Delivered 100% vacant, providing full operational control and efficient lease‑up.
Overview
The property at 545 E Hobson Way presents an opportunity to acquire a partially completed 47-unit multifamily conversion project. A substantial portion of the major capital improvements, including electrical, plumbing, HVAC, and interior work, has been executed. Approximately $260,000 worth of materials have already been purchased and are stored on-site. The remaining work scope is estimated at around $950,000, potentially allowing the next owner to finalize the project at a cost below both replacement value and stabilized market value. Once completed, the property is projected to generate approximately $475,000 in gross income, supported by comparable rental rates in the immediate area. The property is delivered 100% vacant, providing full operational control for an efficient lease-up strategy. The location is in a supply-constrained market driven by workforce housing demand. The property size is 33404 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Blythe
- County
- San Bernardino
- State
- California
- Longitude
- -114.602841
- Latitude
- 33.610631
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 47-unit multifamily conversion with a clear path to stabilization.
Where is this apartment building located?
The property is located at 545 E Hobsonway Blythe, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Partially completed 47‑unit multifamily conversion allows for immediate project continuation.; Significant capital‑intensive work already completed including electrical, plumbing, HVAC, and interior improvements.; $260,000 of materials already purchased and on‑site.
