Partially Completed Multifamily Conversion
For Sale
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545 E Hobsonway, Blythe, CA 92225
47-unit multifamily conversion with a clear path to stabilization.
Property Size33,404 SF
Price / SF$62.87
Days on Market150
Property Features for 545 E Hobsonway
General Information
Standard status
Active
Size
33,404 SF
Property subtype
Land, Multifamily
Investment Type
Value Add
Building Details
Year Built
1990
Year Renovated
2026
Buildings
2
Stories
2
Units
47
Listing Agency:
CBRE - Downtown Los Angeles
(310) 925-2551
Listed By:
Manny Nunez · License #CA 01990970
Source:
Crexi
Added: Mar 18
Changed: Aug 9
Last Checked: Aug 13 at 10:25AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 92225, CA
21,104
Population
7,797
Households
2.7
Avg Household Size
37
Median Age
9%
College-Educated
71%
High-School Grad
581.0 sq mi
ZIP Area
36
Density / Sq Mi
$51,294
Median Household Income
$32,548
Median Earnings
$902
Median Rent
$197,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
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.
