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259 Rosarito Dr

Imperial, CA 92251
  • $1,528,000
  • STATUS: Active
  • ON SITE: 69 Days
  • MLS #: 22200357IC
UPDATED: 235 min ago
$1,528,000
  • 3
    BEDS
  • 0.14
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 1,259
    SQFT
  • $1,214
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2007
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 region is also becoming well known for its renewable energy sector with 11 geothermal plants operated by Cal Energy/Warren Buffet of Berkshire Hathaway, acres of wind power, and miles and miles of solar offering a more diverse job base from years past. Hathaway Energy has estimated that the region's 11 plants could potentially produce more than $1 billion worth of lithium annually and create hundreds of new jobs in Imperial County. See attached for this Portfolio of 4 homes for sale to include 259 Rosarito Dr, 267 Rosarito Dr, 231 Trail Creek Dr, 440 Sunset Dr, Imperial.

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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 DMA Real Estate. Data last updated: 2022-12-05T23:40:31.517.
www.dmahouses.com/homes/133430374
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259 Rosarito Dr Imperial, CA 92251

  • Price: $1,528,000
  • Status: Active
  • On Site: 69 Days
  • Updated: 235 min ago
  • MLS #: 22200357IC
3
Beds
2
Baths
0
½ Baths
0.14
Acres
1,259
SQFT
$1,214
$/SQFT
2007
Built
Neighborhood:
Imperial
County:
Imperial
Area:
Imperial
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 region is also becoming well known for its renewable energy sector with 11 geothermal plants operated by Cal Energy/Warren Buffet of Berkshire Hathaway, acres of wind power, and miles and miles of solar offering a more diverse job base from years past. Hathaway Energy has estimated that the region's 11 plants could potentially produce more than $1 billion worth of lithium annually and create hundreds of new jobs in Imperial County. See attached for this Portfolio of 4 homes for sale to include 259 Rosarito Dr, 267 Rosarito Dr, 231 Trail Creek Dr, 440 Sunset Dr, Imperial.
Exterior Features

Carport Spaces Total 0 Covered Parking 2 Garage Structures Total 1 Parking Garage None Roof Tile Total Parking 4

Interior Features

Cooling Cfac Equipment Garbage DisposalOven/Range-GasDishwasher Flooring Carpet Heating Cfag Laundry Inside Rooms Living/DiningMaster BedroomKitchen Unit Baths1 2.00 Unit Baths2 3.00 Unit Baths3 2.00 Unit Baths4 2.00 Unit Beds1 3 Unit Beds2 4 Unit Beds3 4 Unit Beds4 4 Water Heaters YN Yes

Property Features

Actual Annual Gross Rent 50000.00 Adjusted Gross Income 0 Disclosures None Gross Operating Income 0 Lease Per Month Year See Remarks Net Operating Income 0.00 Number Leased 0 Owner Pays Water Property Sub Type 1 To 4 Units Sale Type Standard Sewer City Total Annual Expense 0 Unit Rent1 1300.00 Unit Rent2 1650.00 Unit Rent3 1325.00 Unit Rent4 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 DMA Real Estate. Data last updated: 2022-12-05T23:40:31.517.
 
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DMA Real Estate
502 W. Aten Rd. #101
Imperial CA, 92251