Sell So Cal SFR if I have high paying tenants w/2 year lease?

[Gail W.]

Hey all... time again for some wiser minds than mine to give me your 2 cents...

We have a great 5 bedroom SFR in an older, well established neighborhood in South Orange County, CA. Great tropical pool, new kitchen and floors. Large lots, not those new zero lot lines. Most homes well cared for- a few need a bit of lawn updating here and there, but nothing that looks total ghetto.

We were the one's who became accidental landlords; we couldn't afford the house any more. So we are renting to our friends who run a Christian based sober living thru the OC Archdiocese. They are doing well with only about 4-5 bodies and just renegotiated the lease for 2 more years starting August 1st at $5k/month. They take EXCELLENT care of the property/house- better than I ever did!

But we are getting older and are thinking of just selling and moving out of state. I know, you're all thinking, WHAT?! But we're just not that great with money or time management, so we're kind of done. Not to mention; we've HAD IT with California.

So my question is this: With renters that have such a long lease agreement, CAN I sell? Also, if I have that type of agreement for such a higher amount of rent than the surrounding homes, would that effect the asking price?? Would that make someone want it less or more?? Like if homes around there are asking any where from $820k to $1.35 mil, would mine look less desirable? Or more if it were a person who wanted that income?? 

Thanks all :)