Current Use by Public Records
- Budget Host / Hotel & Motel
- Emerald Inn and Lounge / Hotel & Motel
- Emerald Lounge / Bar & Pub
Property Details for 1020 Hobsonway
- Year built
- 1960
- Lot size
- 2.41 lot acres
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
This exceptional investment opportunity presents the Emerald Inn and Lounge, a 46-key motel in Blythe, California. Boasting a 100% occupancy rate as of September 20, 2019, this property offers significant potential for increased profitability. The 19,256 square foot motel, built in 1960 and extensively renovated in 2022, sits on a 2.41-acre lot and includes 53 parking spaces. The property features 76 beds across its 46 rooms, and a full-service bar with a valid liquor license, currently not in operation, presenting a significant upside for revenue generation. Recent capital improvements exceeding $250,000 have upgraded plumbing, electrical systems, landscaping (including the addition of palm trees), and security (CCTV installation). The motel benefits from a prime location on a major highway, providing consistent traffic and visibility. The property is zoned C2 and offers a manager's unit with three bedrooms and 2.5 bathrooms, including a living room and dining room. Financial highlights include an asking price of $2,650,000, a current NOI of $135,000, and a pro-forma NOI of $195,000, representing a 5.09% current cap rate and a projected 7.36% pro-forma cap rate. The price per key is $57,608.70, and the land value is $27.14 per square foot. Seller financing may be available for qualified buyers with a 40% down payment. This fee-simple ownership opportunity presents a strong return on investment in a growing California city. The property's location in an Opportunity Zone adds further investment appeal.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Blythe
- County
- Riverside
- State
- California
- Longitude
- -114.608
- Latitude
- 33.6102
