| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 551 S 3rd St, Blythe, CA, 92225, US |
| Region / Metro | Blythe |
| Year of Construction | 1998 |
| Units | 58 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
551 S 3rd St Blythe Multifamily Investment
This 58-unit property built in 1998 sits in a neighborhood with strong rental tenure, where 46.5% of housing units are renter-occupied. Commercial real estate analysis from WDSuite indicates favorable rental demand dynamics supported by limited ownership alternatives in the submarket.
The Blythe neighborhood demonstrates stable rental market fundamentals, ranking in the 86th national percentile for rental tenure with 46.5% of housing units occupied by renters. Demographics within a 3-mile radius show a population of approximately 11,300, with household income growth of 63.4% over five years, bringing median household income to $54,005. The area maintains a balanced age distribution supporting sustained rental demand.
Built in 1998, this property represents newer vintage compared to the neighborhood average construction year of 1966, positioning it competitively for reduced near-term maintenance requirements. Median contract rents in the immediate neighborhood stand at $652, ranking 863rd among 997 metro neighborhoods, indicating affordability that supports tenant retention and lease renewal rates.
The neighborhood offers moderate amenity density with 0.88 grocery stores per square mile (68th national percentile) and 1.98 restaurants per square mile (66th national percentile), providing sufficient tenant conveniences. Occupancy rates in the neighborhood average 89.3%, reflecting stable absorption despite recent household count declines. Forward-looking demographics project household growth of 26.6% through 2028, expanding the potential renter pool.
The neighborhood demonstrates favorable safety metrics relative to national comparisons, with property crime rates ranking in the 79th national percentile among all neighborhoods nationwide. Violent crime rates similarly perform well, placing in the 68th national percentile. These safety indicators rank 120th and 218th respectively among the metro's 997 neighborhoods, positioning the area above regional averages.
Recent trends show property crime declining by 6.4% year-over-year, though violent crime increased by 5.9%. The overall crime ranking of 250th among metro neighborhoods places this location in the upper half for safety considerations, supporting tenant retention and lease renewal discussions.
Employment opportunities in the broader Blythe area center on public sector, agricultural, and service industries, though specific major employers with precise distance data are limited for detailed proximity analysis.
- Local Government Services — public administration and municipal services
- Agricultural Operations — farming and food processing facilities
- Healthcare Facilities — medical services and senior care
This 58-unit property presents a value-oriented multifamily opportunity in a market with strong rental tenure fundamentals. The neighborhood's 46.5% renter-occupied housing share ranks in the 86th national percentile, indicating sustained rental demand. Built in 1998, the property offers newer vintage relative to the 1966 neighborhood average, potentially reducing near-term capital expenditure requirements while maintaining competitive positioning.
Demographic projections according to CRE market data from WDSuite show household growth of 26.6% through 2028, expanding the renter pool despite recent population declines. Median rents of $652 provide affordability that supports tenant retention, while neighborhood occupancy rates of 89.3% demonstrate absorption stability. The combination of newer vintage, strong rental tenure, and projected household growth creates a foundation for steady cash flow performance.
- Strong rental market with 46.5% renter occupancy (86th national percentile)
- Newer 1998 vintage reduces near-term capital expenditure risk
- Projected 26.6% household growth through 2028 expands tenant base
- Affordable $652 median rents support lease renewal rates
- Risk consideration: Recent population decline of 6.8% requires monitoring for demand trends