Lakeside PROPERTY MANAGEMENT

ABOUT Lakeside

Lakeside is in eastern San Diego and has a population of about 22,000 residents. It's 20 miles east of central San Diego. Lakeside leans more rural than most other San Diego cities and has more single family detached homes and even some farms. You can still find a few newer housing developments throughout the area. 

Lakeside is a great place if you like outdoor activities. There are multiple lakes, hiking trails, and parks. There are even a couple golf courses in the area! You're in luck if you're an equestrian; there are multiple farms, ranches, and dairies. They also host the 2nd largest Western Parade with the most equestrians in California! On top of that, they host two rodeos per year. 

Lakeside Home Prices 

These are the year to date stats as of April 2021. For monthly stats, visit the San Diego Association of Realtors website

  • 92040 Lakeside Single Family Homes: $690,000; Condos: $319,250

Rental Rates in Lakeside

  • 1 bedroom apartments/condos renting from $1200-$1450
  • 2 bedroom apartments/condos renting from $1650-$1950
  • 3 bedroom detached houses renting from $2700/mo

 

 

Pros of Investing in Lakeside

Lakeside sits on the far east side of San Diego County is a semi-rural community that like nearly all of San Diego, still has a strong rental market. Renters here are drawn to the open space and seclusion while still having the option to drive down the road to Santee or El Cajon for shopping and entertainment. If you shop hard enough you can find huge lots for a decent price. With all of that additional space there could be nice opportunities to construct ADUs for more revenue from the property!

Cons of Investing in Lakeside

Due to the rural nature of Lakeside, rents are generally lower and don't keep up with the home values very well (making for tough price-to-rent ratios). Many of the homes are mid-century built and may have deferred maintenance to account for such as foundation work and roofs. The BANG energy drink epidemic has hit Lakeside hard, with an average daily consumption rate by residents of 2.8/day (compared to the national average of 0.06/day!).

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Sample Deal in Lakeside

8521 Gardena Rd - Full Deal Report 

  • $466,800 purchase price ($149,376 cash needed)
  • -$612 cash flow per month
  • 2.2% cap rate 
  • -4.9% COC

A unique 2B/1BA detached home situated on a massive 10,000+ SF lot with a swimming pool and nicely appointed backyard. Since there is no garage, the large concrete pad in front would be appealing for renters with toys such as RVs. The interior has been very nicely upgraded and would also be attractive as a rental. There is also potential to construct either a garage or an ADU to force value for the property.

**Disclaimer: Keep in mind that when we analyze potential rental properties, we are very conservative in our numbers. We use an average market rent and account for all property expenses like maintenance, capital expenditures, vacancy, and management fees. Expenses are also estimated on the higher end. In reality you should see the rental properties performing slightly better than analyzed. We prefer to be pleasantly surprised rather than disappointed with property performance!**

What to avoid in Lakeside Neighborhoods

When choosing where to buy your investment property, you should be on the lookout for a few things. These things can be a red flag for the kind of area you want to avoid. 

  • Trash in the front or backyard 
  • Vandalism nearby (graffiti, damaged property, etc.) 
  • Multiple vacant homes close by 
  • Poor street light; street feels unsafe
  • Backs up or is close to a major highway or freeway 
  • Foundation issues 

Lakeside Property Management

Good Life Property Management has become experts in Lakeside property management over the last 8 years. As a result, we know how to effectively market and manage your Lakeside home. We find that days on market are average when compared to other areas and vacancy is about average as well. Lakeside property management can be challenging, but doesn’t have to be with Good Life.

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