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.
These are the year to date stats as of April 2021. For monthly stats, visit the San Diego Association of Realtors website.
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.
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.
5007 Cimarron Way - Full Deal Report
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!**
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.
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.