California town for sale for $5 million

California town for sale for $5 million

For those willing to venture off Interstate 15 at exit 286 and travel 10 miles south, the village of Nipton, California, offers these rewards: peace and quiet, sunshine, sweet water and history dating to the nineteen century.

If you really like it, you can make it your own. Literally. The 80-acre town is for sale for $5 million dollars.

What does it even mean to buy a town? Private ownership of an entire, official town is a rarity.

“It’s sort of like buying a business, said Tony Castrignano, owner/broker of Sky Mesa Realty, who represents the owners and is also their neighbor.

“There’s two aspects to it. The land, which is worth X amount of dollars per acre. Then you have the businesses, and they generate income, so when we evaluated the sale price, we took that into consideration. Believe it or not, this town generates a couple of hundred thousand dollars a year in profit.”

The price includes abundant water, a photovoltaic solar array, a general store, hotel, recreational vehicle park, campgrounds, schoolhouse and two small houses.

Read more at
https://www.reviewjournal.com/homes/real-estate-millions/california-town-for-sale-for-5-million-photos/


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