1020 HobsonwayBlythe, CA 92225

Property Details for 1020 Hobsonway

Year built

1960

Lot size

2.41 AC

Property size (Sq ft)

19,256 SF

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.

Location Insight

City

Blythe

County

Riverside

State

California

Latitude

33.6102

Longitude

-114.608

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].