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904 Meadow Dr

Calexico, CA 92231
  • $729,000
  • STATUS: Active
  • ON SITE: 64 Days
  • MLS #: 22200355IC
UPDATED: 41 min ago
$729,000
  • 3
    BEDS
  • 0.21
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 1,400
    SQFT
  • $521
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2003
County:
Area:

School Ratings & Info

Description

Investors! This investment opportunity is a portfolio of homes situated in Imperial County, CA also known as Lithium Valley. In this portfolio are single family residences that are owned and operated as rental properties. A majority of these homes are 3, 4, and 5 bedroom homes with 2 and 2.5 baths and attached garages. These homes tend to be leased by families, offering long term tenancy to the Buyer. Given the age of the homes, there is minimal repair and capital expenditure outlays for the next buyer and resident turnover tends to be limited here. Single family homes are standalone properties with their own lot (as opposed to duplexes or apartments with multiple units on one lot). The total Portfolio of 22 homes is available to purchase in increments as noted in the attached document. An entry level investor might prefer a smaller 2-home portfolio purchase while the more experienced investor would be interested in 4, 6 or 8-pack portfolios. Some of the homes have assumable loans available. For the past couple of years, occupancy rates have been near 97% for homes and apartments with most units renting in less than 1 week of market entry. Many units carry a waiting list. The commercial and industrial markets reflect similar stats as the housing market with minimum inventory. The projected growth for the next buyer is significant as the limited supply of housing here is not keeping up with the growth coming from across from the border and eastern San Diego County. This growth will allow the next buyer to drive revenue and take advantage of the current under market in place rents and drive rental rates on renewals and/or new leases. The 2 homes for sale in this portfolio are as follows: 904 Meadow Dr and 1035 Paseo Del Ocasco both in Calexico. Annual income for the 2 homes is $30,300 with expenses estimated at $8,484. See attached list of the total Portfolio of 22 Homes.

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© 2022 Imperial County Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Duflock & Associates Real Estate Inc.. Data last updated: 2022-12-07T20:40:48.62.
www.duflock.com/homes/133599956
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904 Meadow Dr Calexico, CA 92231

  • Price: $729,000
  • Status: Active
  • On Site: 64 Days
  • Updated: 41 min ago
  • MLS #: 22200355IC
3
Beds
2
Baths
0
½ Baths
0.21
Acres
1,400
SQFT
$521
$/SQFT
2003
Built
Neighborhood:
Calexico
County:
Imperial
Area:
Calexico
Property Description
Investors! This investment opportunity is a portfolio of homes situated in Imperial County, CA also known as Lithium Valley. In this portfolio are single family residences that are owned and operated as rental properties. A majority of these homes are 3, 4, and 5 bedroom homes with 2 and 2.5 baths and attached garages. These homes tend to be leased by families, offering long term tenancy to the Buyer. Given the age of the homes, there is minimal repair and capital expenditure outlays for the next buyer and resident turnover tends to be limited here. Single family homes are standalone properties with their own lot (as opposed to duplexes or apartments with multiple units on one lot). The total Portfolio of 22 homes is available to purchase in increments as noted in the attached document. An entry level investor might prefer a smaller 2-home portfolio purchase while the more experienced investor would be interested in 4, 6 or 8-pack portfolios. Some of the homes have assumable loans available. For the past couple of years, occupancy rates have been near 97% for homes and apartments with most units renting in less than 1 week of market entry. Many units carry a waiting list. The commercial and industrial markets reflect similar stats as the housing market with minimum inventory. The projected growth for the next buyer is significant as the limited supply of housing here is not keeping up with the growth coming from across from the border and eastern San Diego County. This growth will allow the next buyer to drive revenue and take advantage of the current under market in place rents and drive rental rates on renewals and/or new leases. The 2 homes for sale in this portfolio are as follows: 904 Meadow Dr and 1035 Paseo Del Ocasco both in Calexico. Annual income for the 2 homes is $30,300 with expenses estimated at $8,484. See attached list of the total Portfolio of 22 Homes.
Exterior Features

Carport Spaces Total 0 Covered Parking 2 Garage Structures Total 1 Parking Garage DrivewayGarage - 2 Car Roof Concrete Tile Total Parking 4

Interior Features

Cooling Cfac Equipment Dishwasher Flooring Ceramic Tile Heating Cfag Laundry Inside Rooms Kitchen Unit Baths1 2.00 Unit Baths2 2.00 Unit Beds1 3 Unit Beds2 4 Water Heaters YN Yes

Property Features

Adjusted Gross Income 30300 Disclosures As Is Gross Operating Income 0 Net Operating Income 0.00 Number Leased 0 Owner Pays Other Property Sub Type 1 To 4 Units Sale Type Standard Sewer City Total Annual Expense 8484 Unit Rent1 1200.00 Unit Rent2 1325.00 Water City Water Heater Features Gas Zoning R1

Listing courtesy of Pat Seay Real Estate: 760-353-0849.


© 2022 Imperial County Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Duflock & Associates Real Estate Inc.. Data last updated: 2022-12-07T20:40:48.62.
 
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Duflock & Associates Real Estate Inc.
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El Centro CA, 92243