SPRING VALLEY PROPERTY MANAGEMENT

ABOUT SPRING VALLEY

Spring Valley is a quiet neighborhood that is roughly 12 miles from central San Diego. It’s slightly south of La Mesa and has around 100,000 residents. The area has mostly condos and single-family homes at a more affordable rate than other San Diego cities. There are many elementary, middle, and high schools in the area, making it a good spot for families. San Diego State University is also a short drive away. 

There are a few parks scattered throughout Spring Valley, including Sweetwater Community Park. Gather here for a family barbecue or watch your kids play a friendly game of baseball. Speaking of barbecue, don’t miss Cali Comfort BBQ on Troy Street. They have some of the best BBQ in all of San Diego and have almost 2,000 Yelp reviews with a 4.5 star rating!

Spring Valley HOME PRICES 

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

  • 91917 Spring Valley Single Family Homes: $615,000; Condos: $386,250

RENTAL RATES IN Spring Valley

  • 1 bedroom apartments/condos renting from $1300-$1595/mo
  • 2 bedroom apartments/condos renting from $1700-$1900/mo
  • 3 bedroom detached homes renting from $2700-$3000/mo 
  • 4 bedroom detached homes renting from $3000/Mo+

 

 

PROS OF INVESTING IN Spring Valley

Another more affordable neighborhood of San Diego with great proximity to La Mesa and a straight shot drive down the 94 to reach downtown San Diego. The price points are lower per square foot and there is a strong demand for military families looking for affordable housing close to the coastal bases.

CONS OF INVESTING IN Spring Valley

Crime rates are higher in Spring Valley and in our experience, the tenant base has had higher delinquency rates and left properties in poor condition, leading to higher turnover costs. It is important to be very familiar with the zip code as some pockets of Spring Valley are far more desirable than others. 

SAMPLE DEAL IN Spring Valley

1626 La Mesa Ave - Full Deal Report 

  • $585,000 purchase price ($227,200 cash needed)
  • -$579 cash flow per month
  • 2.6% cap rate 
  • -3.1% COC

A fixer-upper 3B/2BA two-story house that sits perched on Dictionary Hill, which boasts a lovely south-facing view over Sweetwater Reservoir. $40,000 worth of upgrades (flooring, kitchen, landscaping) to the home to make it a desirable rental property and increase its value, this home would rent very quickly when finished. The yard may require a landscaper to maintain depending on how much foliage is planted, so always be sure to account for that expense when running numbers for detached homes!

**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 Spring Valley 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 

Spring Valley PROPERTY MANAGEMENT

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

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