Otay Ranch PROPERTY MANAGEMENT

ABOUT Otay Ranch

Otay Ranch is an area within Chula Vista that has a population of roughly 65,000 people. Known for its pristine communities and expansive outdoor mall, Otay Ranch attracts many families. It's proximity to great schools makes it a desirable location for those with young children. 

There are numerous communities to choose from in Otay Ranch: Alay, Bella Sitia, Cantemar, Monte Villa, Parc Place, and Suwerte. There are plenty of parks and trails for the outdoorsy folk and even a beautiful community pool. The MTS services Otay Ranch and nearby areas. 

Otay Ranch Home Prices 

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

  • 91915 Otay Ranch Single Family Homes: $735,000
  • 91915 Otay Ranch Condos: $547,000

Rental Rates in Otay Ranch 

  • A lot of new construction in Otay Ranch
  • One bedrooms around $1800/mo
  • Two bedroom townhouses around $2400-$2600/mo with new construction renting for higher 
  • 3+ bedroom townhouses renting for upwards of $3000/mo
  • Larger executive homes (4, 5, 6 bedroom) renting for $4000/mo+

 

 

Pros of Investing in Otay Ranch

Situated in the far southeast corner of Chula Vista, Otay Ranch is an idyllic patch of newer construction that often goes overlooked. The zip code is dominated by a large master HOA, Eastlake Greens, that is highly sought after by renters and homeowners alike for its great location, nice homes, and community amenities (how do large parks and three separate resort-style swimming pools sound?). The Olympic Training Center is also located in Otay Ranch!

Cons of Investing in Otay Ranch

The price points are generally higher in Otay Ranch due to the competitive nature of securing an investment here. The numbers may not be as appealing, but you can count on having high quality renters that will likely stay for a longer time.

Screen Shot 2021-05-06 at 3.10.33 PM

Sample Deal in Otay Ranch

2359 Eastridge Loop - Full Deal Report 

  • $701,000 purchase price ($224,320 cash needed)
  • -$808 cash flow per month
  • 2.4% cap rate 
  • -4.3% COC

A large two-story 3B/2.5BA detached house in Eastlake Greens with HOA fees of only $128. The kitchen is nicely upgraded, plenty of parking options, and a private backyard that looks great for entertaining guests. The layout lends itself to attracting families that would likely stay for multiple years, reducing vacancy and turnover costs.

**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 Otay Ranch 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 

Otay Ranch Property Management

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

Schedule a Call