VILLA MONREALE
Blythe, Riverside County, CA
Villa Monreale is a residential development comprising 73 single residential lots ranging in size from 7250 square feet to approximately 14000 square feet on a 20 acre parcel situated in the City of Blythe, Riverside County, California. Tract No. 34499.
The City of Blythe is located on Fwy I-10 right on the Colorado River that separates the states of California and Arizona. Agriculture is the main economic activity along with other businesses connected with it. Tourists, attracted by the beautiful West bank of the Colorado River, have fueled additional business for the city which is reflected in the extensive riverfront residential developments recently completed and sold out.
Located mid-way between the City of Indio, California and Phoenix, Arizona, Blythe is a natural stopover for the thousands of freight trucks and motorists needing refueling, overnight resting, restaurant services, etc. This explains the number of motels and eateries established in the city. In recent years, Blythe has undergone a dramatic change with the construction of new infrastructures, the new College, and new residential development not only on the Colorado River, but also in the city itself. The demand for single family homes is sustained also by the personnel employed by the two detention facilities located in the immediate vicinity of Blythe. Approximately 2000 well paid workers, many of which are still enduring long commutes, would welcome the opportunity to settle in the city.
Blythe has been largely spared by the housing bubble that has created so many problems nationwide. The large homebuilders have bypassed the City of Blythe that cannot absorb the huge residential development seen in the Palm Springs corridor and in the Phoenix area, leaving a limited, albeit substantially untouched, market to smaller developers.
This is the leading concept that drove us to consider, and actually invest, in the development of Villa Monreale, a mid-to-small size residential complex that can be built in phases according to the market demand and capacity to absorb the product. The subdivision has been approved as Tract No. 34499 and the project is ready to go. The project, including land and approved Final Map with grading plans, is offered at $1,825,500 or $25,000.00 per acre.
Financial projection including detailed construction cost and projected income is available to qualified buyers upon request and accepted offer.
