$99,426 NOI | 10 Unit Stabilized Multifamily Investment
10 Units | Long-Term and Medium-Term Furnished Rentals
Marketing description
Rice & Spring 10-Unit Apartment Complex — Stabilized Value-Add Multifamily | Blythe, CA
Turnkey 10-unit apartment complex offered at $1,250,000 ($125,000/unit) with a 7.76% cap rate and 100% occupancy. Located at the corner of Rice St and Spring St in Blythe, CA, this property delivers $97,047 in projected 2026 NOI through a proven mix of medium-term and long-term rentals.
INVESTMENT HIGHLIGHTS:
- 10 units | 100% occupied | All month-to-month leases
- $12,475/mo gross rent | $149,700 annualized
- 8 of 10 units fully renovated (2019–2026)
- 6 furnished units commanding $1,400–$1,720/mo
- 25.8% expense ratio | Minimal CapEx needed
- New insurance coverage through May 2027
- Average rent: $1,247.50/unit
VALUE-ADD OPPORTUNITY: Two original-condition units (212 W Rice at $650/mo and 216 W Rice at $805/mo) offer immediate upside through renovation. Comparable remodeled units lease at $1,400–$1,500/mo — a potential $1,445+/mo in additional rent upon completion.
MARKET DRIVERS: Blythe sits at the crossroads of I-10 between Los Angeles and Phoenix, serving as a regional hub for renewable energy workers, Caltrans crews, and agricultural tenants. Large-scale solar projects (Blythe Mesa, Desert Harvest) generate sustained demand for furnished workforce housing. Market vacancy sits at 4.2% with less than 1% forecasted unit growth, supporting continued rent stability and low turnover.
Investment highlights
Rice & Spring 10-Unit Apartment Complex — Stabilized Value-Add Multifamily | Blythe, CA
Turnkey 10-unit apartment complex offered at $1,250,000 ($125,000/unit) with a 7.76% cap rate and 100% occupancy. Located at the corner of Rice St and Spring St in Blythe, CA, this property delivers $97,047 in projected 2026 NOI through a proven mix of medium-term and long-term rentals.
INVESTMENT HIGHLIGHTS:
- 10 units | 100% occupied | All month-to-month leases
- $12,475/mo gross rent | $149,700 annualized
- 8 of 10 units fully renovated (2019–2026)
- 6 furnished units commanding $1,400–$1,720/mo
- 25.8% expense ratio | Minimal CapEx needed
- New insurance coverage through May 2027
- Average rent: $1,247.50/unit
VALUE-ADD OPPORTUNITY: Two original-condition units (212 W Rice at $650/mo and 216 W Rice at $805/mo) offer immediate upside through renovation. Comparable remodeled units lease at $1,400–$1,500/mo — a potential $1,445+/mo in additional rent upon completion.
MARKET DRIVERS: Blythe sits at the crossroads of I-10 between Los Angeles and Phoenix, serving as a regional hub for renewable energy workers, Caltrans crews, and agricultural tenants. Large-scale solar projects (Blythe Mesa, Desert Harvest) generate sustained demand for furnished workforce housing. Market vacancy sits at 4.2% with less than 1% forecasted unit growth, supporting continued rent stability and low turnover.
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