In California, a state where single family houses often run for millions of dollars, what amounts to basically an entire city has gone on the market with a price tag of just $6.6 million.
Top Gun Commercial Real Estate has listed a 16-acre property in Campo, Calif., a town that’s about 2 miles from the Mexican border and an hour or so east of San Diego. Included in that listing are 28 buildings that make up the bulk of the town’s properties. Most were built in the 1940s.
Those properties are occupied, too. About 100 residents rent from a single owner who is looking to sell. The Border Patrol also rents a commercial building in the town.
The seller (and townspeople) hope whoever buys Campo does so with revitalization in mind.
“Investors can choose to build to maximize the density of the existing land without altering the town's current structures, or alternatively, consider a complete redevelopment to modernize and elevate Campo's profile,” the listing reads. “Campo's appeal is not limited to its potential for physical transformation but is enhanced by its strategic location. The proximity to San Diego opens a myriad of recreational, cultural, and economic opportunities, making it an attractive proposition for long-term investors looking to make a significant impact.”
Included in the sale are 28 residential properties, which rent for anywhere from $250 per month to $1,600, as well as a church, metal shop, post office, lumber yard and the border patrol building. All totaled, more than 62,000 square feet of property is part of the sale—with monthly rents totaling $44,253 worth of recurring income for the new buyer.
Heck, the town will pay for itself in just 149 months!
Campo was originally established in World War II to house soldiers in case of an invasion, which (of course) never happened.
