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February 24, 2021
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MULTIFAMILY NEWS
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Affordable Housing Property in Blythe Sells for $29k per Unit

2/24/21

Quail Place Apartments, a 58-unit affordable housing property in Blythe, CA, was purchased by a private investor for $1.7 mil, or $29.3k per unit.

Quail Place Apartments sits on 4.79 acres at 551 S 3rd St, near the 10 Fwy and the Colorado River. It is comprised of 18 two-bedroom/one-bathroom units, 36 three-bedroom/one-and-a-half-bathroom units, and four four-bedroom/two-bathroom units.

CBRE’s Cray Carlson represented the buyer and the seller, a local private investor, in the transaction. Blythe is a city in Riverside County in the Palo Verde Valley of the Lower Colorado River Valley region, an agricultural area and part of the Colorado Desert.

“There was and is a lot of activity on apartments with an affordable housing component to them,” said Carlson. “The market is very strong, and the Inland Empire continues to show some of the strongest economics in the Country right now.”




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