101087 . 29 Home SFR Imperial County, CA

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101087 . 29 Home SFR Imperial County, CA, Imperial, CA 92251

3.75% assumable financing available

Very limited CapEx with largely new construction or recently constructed homes

Bulk scale opportunity or selective purchase option on assumable loan packages

The builder can’t build fast enough to keep up with leasing demand

All fee simple single-family homes

Big revenue growth opportunity at new lease or unit turns

Average price per home of $360,000

25% population growth in Imperial County in the last decade

Strong employment base between government, industrial, commercial & retail sectors fueling leasing activity

Bestplaces.org ranks El Centro #45 as the top emerging market in the country

Significant home price appreciation in last 12 months above 27%

Least expensive water & electricity in California

All SVN® Offices Independently Owned & Operated

Local Broker License Information: www.SFRhub.com/realstatelicensing

Property Description

Visit www.SFRhub.com and search for portfolio 1087 for more information.

 

Contact:

TOM JOHNSTON

Director of Brokerage Services

SVN | SFRhub Advisors

T: 602.825.1780

C: 602.403.3695

tom.johnston@svn.com

License #: BR507919000

 

BOR:

Joe Bonin

SVN | Vanguard

Managing Director

 

This portfolio, located in Imperial County, can be purchased with similar sized portfolios locally and are all available as part of a larger rental portfolio package as well. Each smaller portfolio has been sub-grouped within their current assumable loan packages. Nearly all homes have been built by the same builder over the last 15 years with a vintage of 2005-2021. The builder cannot build the homes fast enough today, as all homes are fully leased and historically have been preleased before reaching Certificate of Occupancy. Multiple portfolio packages with assumable loans are available at different price points for investors with smaller capital deployment needs or an investor with larger capital deployment concerns can purchase over 350 SFR rental homes at once. A majority of these homes are 3-, 4-, and 5-bedroom homes with 2 and 2.5 baths and attached garages. The average size of the homes within the portfolio is 1,475 SF and most of the homes were built with similar spec finish levels and appliance packages while thoughtfully designed with the tenant in mind. The average home price of $360,000 in this portfolio falls right in line with the median home price for the area while offering an investor a very stable cash flow with increased upside as more and more people continue to move to the area seeking affordability. Housing demand in Imperial County is not keeping up with the growth coming from the border and eastern San Diego County. This growth will allow the next buyer to drive revenue and take advantage of the current under-market in-place rents and drive rental rates by nearly 20% on renewals and/or new leases. Imperial County has seen a 25% population growth over the last decade, reaching nearly 200,000 residents today, which has continued to fuel the leasing activity. Since 2020, it has continued to grow and home price appreciation is up 27.4% in the last 12 months. El Centro ranks #45 in emerging markets according to bestplaces.net.

Key Property Information

Listing Status
Unavailable
Multifamily type
Single Family Rental Portfolio
No. of Units
29
Average Occupancy
100%
Year Built
2021
Building Size
42,310.98 Sq ft
Lot Size
153,335.99 sq ft
Opportunity Zone
No
Buy Side Fee
49.99%

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