903 HobsonwayBlythe, CA 92225

Property Details for 903 Hobsonway

Year built

1960

Construction

WOOD

Lot size

1.80 AC

Property size (Sq ft)

19,793 SF

Zone code

C2

Property type

Hospitality properties

Property subtype

Hotels

APN

836-090-040

APU

836090040

Description

This fee-simple Econo Lodge in Blythe, CA, presents a compelling investment opportunity. The 49-key, two-story hotel, built in 1950 and renovated in 2022, boasts 30,000 square feet on a 1.83-acre lot zoned C2. Its strategic location near Interstate 10 ensures high visibility and easy access for travelers, attracting both leisure and business guests. The property features well-appointed rooms with amenities including free Wi-Fi, flat-screen TVs, mini-fridges, and microwaves. Additional amenities include a complimentary breakfast, an outdoor swimming pool, free parking, and pet-friendly accommodations. A business center and meeting facilities cater to corporate events, further enhancing revenue potential. The hotel's strong financial performance is reflected in its $3,200,000 asking price, $365,787 NOI, and an 11.43% cap rate. Current occupancy stands at 49.7%. Detailed financial records are available for review. Blythe's ongoing development and increasing tourism present significant opportunities for growth through targeted marketing and potential property upgrades. This represents a stable investment in a thriving market with potential for long-term appreciation. The property is available for a 1031 exchange.

• CAP approach

  CAP return

  Valuation

  6%

  $3,983,328

  6.5%

  $3,676,918

  7%

  $3,414,281

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,631,788

  Geo Method

  $7,631,788

• Alternative Use

  Use

  Valuation

  Residential

  $4,014,126

  Hospitality

  $3,676,918

  Educational

  $3,059,152

  Medical

  $3,164,362

  Retail

  $4,758,682

Location Insight

City

Blythe

County

Riverside

State

California

Latitude

33.6107

Longitude

-114.607

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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