San Ysidro PROPERTY MANAGEMENT

ABOUT San Ysidro

San Ysidro is in South San Diego and has a population of about 33,000. It's home to one of the busiest border crossings and a main access point to Mexico.  One of the largest outlet malls in the state, Las Americanas, is located in San Ysidro. 

San Ysidro Home Prices 

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

  • 92173 San Ysidro Single Family Homes: $625,000
  • 92173 San Ysidro Condos: $315,500

Rental Rates in San Ysidro

  • 1 bedroom condos renting around $1500/mo
  • 2 bedroom condos renting around $1800-$2000/mo
  • 3 bedroom condos/townhouses renting around $2400-$2600/mo
  • 3 bedroom detached houses renting around $2600-$2800/mo

 

Pros of Investing in San Ysidro

Interestingly, a couple of miles from the border Chula Vista ends and the City of San Diego resumes again in the form of the neighborhoods of San Ysidro and Otay Mesa. The Port of San Ysidro border crossing to TIjuana is one of the busiest in the world and houses a large outlet store mall with big name brands like Nike. It is safe to say that the border area will always remain economically busy and a demand for rentals strong.

Cons of Investing in San Ysidro

Prices are comparatively lower than most of the rest of San Diego and you can secure a huge 2,000+ square foot house for less than $700,000! However, tenant screening must be conducted very thoroughly to avoid having renters that don't take care of the home, as turnover costs for properties this large can get painfully expensive. The pockets west of the 805 should be scrutinized as the renter base may not be as ideal.

Sample Deal in San Ysidro

5007 Cimarron Way - Full Deal Report 

  • $715,000 purchase price ($228,800 cash needed)
  • -$740 cash flow per month
  • 2.5% cap rate 
  • -3.9% COC

At a whopping 2,333 square feet, this 15 year old home is a great value for $715,000. One important item to note is that there is a leased solar power system installed at the property which the buyer is on the hook for assuming. Leased solar is generally not very attractive as the monthly payments on it can overwrite the energy savings (that get passed to tenants anyway!) and can be a detractor when you are looking to exit and sell the property. The Ocean View Hills pocket of Otay Mesa is a nice development that sees a lot of activity on the rental market.

**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 San Ysidro 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 

 

San Ysidro Property Management

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

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