Key Takeaways
- Campo, a historic town in California, is for sale at $6.6 million.
- The property includes 28 residential units, 7 commercial buildings, and key facilities like a post office and church.
- Residents hope for a buyer who will invest in the community and preserve its historical charm.
Historic Town of Campo, California, Listed for Sale at $6.6 Million
Campo, a historic town in southeastern San Diego County, California, is now on the market for $6.6 million.
The town, steeped in history and characterized by its close-knit community, has attracted interest from various potential buyers over the years.
This new listing has renewed hope among residents for a buyer who will invest in revitalizing the area.
Property Details
The 16-acre property includes:
- 28 residential units across 21 buildings
- 7 commercial buildings
- Key facilities such as a post office, church, lumber yard, and a Border Patrol office
Joseph Barela of Top Gun Commercial Real Estate, the broker for the sale, revealed that notable figures, including a movie producer and skateboard legend Tony Hawk, have previously shown interest in Campo .
Historical Significance
Originally established during World War II, Campo was home to the Buffalo Soldiers, an all-African-American cavalry unit.
The camp also housed Italian prisoners of war.
Today, many of the town’s structures date back to this period, giving it a unique historical charm.
Community and Lifestyle
Campo’s roughly 100 residents cherish the town’s quiet, family-oriented atmosphere.
Residents like Shannon Martinez and Crystal Rivera highlight the town’s sense of community, where “everybody knows everybody” and people look out for one another.
Current Owner and Sale Conditions
Las Vegas investor John Ray has owned most of Campo since the early 2000s. He is selling the town because he is tired of being a landlord.
The property’s net operating income is estimated at $331,521 annually, with the potential for an increase to $415,000 after renovations.
Ray’s asking price has risen from $5.5 million five years ago to $6.6 million today, reflecting increased rents and the property’s overall value.
Resident Hopes and Future Prospects
Residents hope for a buyer who will invest in the community, adding amenities like a gym and daycare.
The ideal buyer, they believe, should value Campo’s history and close-knit nature.
Gary London, a San Diego housing analyst, suggests that a manufacturer might be an ideal buyer, potentially turning Campo into a company town, thus addressing issues related to long commutes and local infrastructure.
Related Facts
Campo has a significant historical connection to the Buffalo Soldiers. During World War II, Campo, known as Camp Lockett, served as a military base and was home to this all-African-American cavalry unit of the U.S. Army.
Stationed there to patrol the U.S.-Mexico border and guard against potential invasions, the Buffalo Soldiers are a notable part of Campo’s legacy.
Beyond their military prowess, they were exceptional horsemen and played a critical role in maintaining order in the American West.
They were among the first to serve as National Park Rangers in places like Yosemite and Sequoia National Parks, helping to protect these natural treasures and paving the way for the modern National Park Service.
Implications for Potential Real Estate Investors
Pros
- Historical Significance: Campo’s rich history, including its role during World War II and as the home of the Buffalo Soldiers, provides a unique selling point that can be leveraged in marketing and tourism.
- Community and Location: The town’s close-knit community and serene setting make it attractive for buyers seeking a quieter lifestyle or looking to develop community-centric projects.
- Existing Infrastructure: With 28 residential units, seven commercial buildings, and key facilities like a post office and a church already in place, investors have a substantial foundation to build upon.
- Investment Potential: The current net operating income of $331,521, with potential to increase to $415,000 post-renovation, offers a solid return on investment. The availability of seller financing for 50% of the price further sweetens the deal.
Cons
- Deferred Maintenance: Many of Campo’s buildings, dating back to the 1940s, require significant renovation and upkeep, which could be costly and time-consuming.
- Remote Location: Campo’s distance from major job centers and its sole access via State Route 94 may deter potential buyers looking for more conveniently located investments.
- Market Demand: Despite its charm, the small size and rural nature of Campo may limit its appeal to a niche market, making it potentially challenging to attract a broad spectrum of buyers or renters.
- Climate Considerations: The average high temperature of over 90 degrees in summer could be a drawback for some investors and potential residents, impacting the town’s attractiveness.
Potential Town Usage Ideas for Real Estate Investors
- Tourism and Hospitality: Leveraging Campo’s historical significance, investors could develop a boutique hotel, bed and breakfast, or historical tours, attracting history enthusiasts and tourists.
- Retirement Community: The town’s quiet, family-oriented atmosphere makes it an ideal location for a retirement community, providing a peaceful environment for seniors.
- Corporate Retreats and Training Centers: Companies could utilize Campo as a retreat or training center, offering a secluded and focused environment for team-building activities and training programs.
- Artistic and Creative Hub: With its unique historical backdrop and picturesque setting, Campo could attract artists, writers, and filmmakers looking for inspiration and a tranquil workspace.
- Agricultural Development: Given the surrounding rural landscape, investors could explore agricultural ventures or organic farming, promoting sustainability and providing fresh produce to nearby markets.
- Educational and Recreational Camps: Campo’s existing infrastructure and open spaces make it suitable for educational camps or recreational facilities, catering to youth groups, outdoor enthusiasts, and adventure seekers.
Assessment
Investing in Campo offers a mix of opportunities and challenges.
The town’s historical charm and community spirit present unique possibilities for creative and community-focused developments.
However, potential investors must carefully weigh the costs of renovations and the implications of its remote location.
With a thoughtful approach, Campo could be transformed into a vibrant destination, blending its rich past with innovative future uses.
