A historic area in downtown California is up for grabs, but it comes with a pretty price tag.
Top Gun Commercial Real Estate (Top Gun CRE) recently listed the downtown area of Campo, California, for sale. The area was settled in the 19th century and served as a military town in World War II, according to the Pacific Southwest Railway Museum Association.
The Southern California unincorporated community has less than 3,000 residents, according to the 2020 census. It is located a mile from the U.S.-Mexican border and around 50 miles southeast of San Diego.
AVERAGE COST OF AN AMERICAN HOME IN THE DECADE YOU WERE BORN, FROM 1940S TO PRESENT DAY
The property portfolio includes eighteen buildings and 95,000 square feet, according to the real estate company's website. The asking price is $6.6 million, and Top Gun CRE is calling for "forward-thinking investors" to move forward.
"The town presents a canvas for investors with vision, offering the potential for high cash flow and significant upside through strategic development and honed operations," the website reads.
"The diverse portfolio includes a range of residential units, many of which have been recently updated with essential modern amenities such as new roofing and vinyl plank flooring, ensuring attractiveness and comfort for residents."
BUYERS ARE TAKING ON RISKIER ADJUSTABLE RATE MORTGAGES AS AFFORDABILITY WORSENS
Top Gun CRE's website calls the community "ripe for revitalization," and offers potential buyers the chance to "steer the future of Downtown Campo itself."
Joseph Barela, real estate agent with Top Gun CRE, told KUSI in San Diego that a movie producer once showed interest in buying the area, as well as professional skateboarder Tony Hawk. Ideally, the next owner would be committed to investing in the community, Top Gun CRE relators say.
CLICK HERE TO SIGN UP FOR OUR LIFESTYLE NEWSLETTER
Locals told the outlet that they enjoyed their small, secluded community.
"You don't get the hustle and bustle," Michael Hoffner, a resident of Campo, said. "You get to sleep peacefully, and you get to see the stars out here."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Fox Business reached out to Barela for comment.
For more Lifestyle articles, visit foxbusiness.com/lifestyle.
