It's only a good investment if you plan to stay for a long time. If you plan to try to flip it or sell it in a year then no, it is definitely not a good investment, no matter what anyone tells you. If you can get a good deal (and there are a LOT of good deals out there for buyers these days, especially in the condo market) and you do not have to sell to buy, and you can stop wasting money on rent (which pays your landlord's mortgage) and you plan to stay for a while, then yes, it will be a good investment. Investments are all about your exit strategy. Don't buy it if you will have to sell soon. Personally I think West Hollywood condos are a much better investment than downtown, and if you find one that has been on the market for a long time you can practically write your own deal. Downtown is still lacking some infrastructure, like supermarkets, for instance, which really help boost the value of a condo. Let us know if you need any help or advice, and happy new year!