A quant California downtown is on sale for $6.6 million, but the seller is looking for a specific kind of buyer

01.09.2024 - 13:54 / insider.com

Nestled below California's Laguna Mountainis Campo, a small unincorporated community that Deborah Jean Peck calls home.

"I've been here for a while, and I'll never leave," Peck, 59, told Business Insider. "The feeling of community is incredible. There's nothing like it."

The community is an hour east of San Diego, a sprawling metropolitan city with over 1.3 million people and two professional sports teams. Campo has just under 3,000 residents and one Dollar General. But for those who live there, that's part of its charm.

Peck said Campo is a community where people don't hesitate to lend a helping hand or step up when times get tough.

"If there's any type of tragedy, everyone comes together and helps one another. You don't even have to know the person," she said.

People care about each other in Campo, she said. It's something she wants the future owner to understand.

After two decades, real estate investor John Ray has decided to sellCampo's downtown for $6.6 million. But he isn't looking for just any buyer.

The listing for downtown Campo includes three separate parcels totaling about 16 acres. There are 28 buildings, a mix of residential units and commercial businesses, including a post office and a Baptist church.

Nick Hernandez, the property's listing agent at Top Gun CRE, told BI that the area has about 150 to 175 residents. Many of them are young families with children.

"It's a really tight-knit community," Hernandez said.

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Ray first purchased the property in 2000 when he lived in San Diego. He's since moved to Las Vegas. "Campo's not as close as it once was. So, time to pass it on to somebody else," he said.

Ray tried to sell the downtown in 2019 for $6 million but delisted the property when the COVID-19 pandemic hit and the real estate market stumbled.

Both Hernandez and Ray said the natural landscapes surrounding Campo could be a big draw for potential owners. In addition to the Cleveland National Forest, Campo is the southern terminus for the Pacific Crest Trail, an iconic hike that spans the West Coast from Mexico to Canada.

History buffs might be intrigued with Campo's past, including its stint as a military outpost for African-American troops during World War II, called "Buffalo Soldiers."

"It was a pretty substantial base back in the day," Hernandez said.

Potential owners might also be attracted to revitalizing part of a long-standing town.

Hernandez and Ray said short-term rentals could be one way for Campo's future owner to upgrade the town.

"You can rent an Airbnb and have an activity there, whether it's artistic activity, horses, or off-roading," Ray said.

While the opportunity to revitalize downtown Campo with major changes might entice some folks, residents don't