251 Colorado River RdBlythe, CA 92225

Property Details for 251 Colorado River Rd

Year built

2016

Construction

WOOD

Property size (Sq ft)

4,100 SF

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

833-310-018

APU

833310018

Description

Exceptional value-add opportunity in Blythe, CA, presents a 60-site mobile home park situated on 40.63 acres. Currently boasting 85% occupancy, this all-age community sits on public utilities and offers significant upside potential. All 60 pads are tenant-owned, with the remaining vacant homes expected to sell shortly, generating an immediate increase in annual revenue. A substantial expansion opportunity exists, with plans in progress to add 67 more sites, increasing the total to 127. The park's strong performance is evidenced by the successful sale of 20 homes since 2015, each selling within four months. Filling the current five vacant sites would add approximately $38,000 in annual revenue, while raising lot rents (currently unrestricted by rent control) presents further significant income growth. A planned lot rent increase in December 2024 is projected to add over $13,000 annually. Beyond the pads, the property includes a remodeled clubhouse with a full kitchen, billiard table, swimming pool, spa, patio, and picnic area. Convenient access to boat launching facilities is located directly across the street. Additional revenue streams are possible through the rental of on-site storage for boats, RVs, and motorhomes. The property's attractive layout features off-street parking and paved roads, making it an appealing and well-maintained community. This property is well-positioned for attractive debt financing and represents a compelling investment opportunity for a buyer seeking immediate income and substantial long-term growth.

• CAP approach

  CAP return

  Valuation

  6%

  $2,703,201

  6.5%

  $2,495,262

  7%

  $2,317,030

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,433,075

  Geo Method

  $2,433,075

• Alternative Use

  Use

  Valuation

  Residential

  $2,495,262

  Hospitality

  $2,285,647

  Educational

  $1,901,632

  Medical

  $1,967,032

  Retail

  $2,958,094

Location Insight

City

Blythe

County

Riverside

State

California

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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