Emy, Home Buyer in San Francisco, CA

Is buying a rental property near UCSD a good move? What is the avg. appreciation rate for condo near UCSD?

Asked by Emy, San Francisco, CA Wed Jan 9, 2008

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7
Emy:

Rental properties near UCSD are always in demand by students and university staff--and vacancies are rarely a problem. Appreciation rates have been fairly stagnant the last year, and it may be possible to find some motivated sellers (such as parents whose kids have graduated).

We are advising our clients to focus on blue chip properties such as these until the San Diego real estate market market settles.

For additional information about real estate in La Jolla, click the link below:

Best wishes!
1 vote Thank Flag Link Sat Jan 12, 2008
Roberta Murp…, Real Estate Pro in Carlsbad, CA
MVP'08
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All previous answers are excellent. Please weigh all of this information. I would add that signonsandiego.com allows you to follow the prices of condos over the last 5 years on a monthly basis. The current market is definitely a buyers market and this condition is true for this submarket as well. In order to succeed as an investor you must be prepared to make a lot of offers at substantially reduced prices. If you are interested in current availability and pricing of rentals you might benefit from a periodic review of our website. We have managed properties in this area since 1972.
Web Reference: http://www.FBS-PM.com
0 votes Thank Flag Link Sat Mar 22, 2008
Funding for Student Loans is drying up along with all the other credit markets. George Bush budget plan cuts a lot from educational grants etc. I'm not too sure. In the past, seemed like a sure shot, nothing is sure shot anymore.

good luck
0 votes Thank Flag Link Mon Mar 17, 2008
Buying a rental property near UCSD could be the best decision you ever make while in college. I teach people how to Live Rent Free and Pay for College. Its actually pretty easy too. For a copy of this report, visit my link below.
Web Reference: http://www.ucsdhousing.org
0 votes Thank Flag Link Mon Mar 17, 2008
Emy:

These rental prices will give you an idea of the market rents in condominiums and town houses all of them very close to UCSD. There are two 1 Br. 1 Ba. for rent between $ 1,300 and $ 1,350. Three 2 Br. 2 Ba. between $ 1,700 and $ 2,200. There are four 2 Br. 21/2 Ba. between $ 2,400 and $ 3,000. There is not too much flexibility between the asking price and the price the units get rented. Usually between $ 50.00 and $ 100.00. Also, they don't last long in the market. From 15 days to 60 days. As for the appreciation, Real Estate prices are flat everywere in San Diego. Things are still selling but there is no appreciation right now. At least this is my opinion. The prices go from $ 250,000 for a small one bedroom unit to around $700,00 for the most expensive units, also condos and town houses around UCSD. Between 1/2 Mile and 3 Miles from the University. If you can afford the negative cash flow, eventually prices will go up again. I have seen these ups and downs very often. In 1981, 1990, 2000 and now. At least we are not seeing a rash of foreclosures in La Jolla. Very few. I hope these information helped you. If you need more info please visit my website http://www.besthomesinlajolla.com.
0 votes Thank Flag Link Fri Feb 29, 2008
If you are student at UCSD or a parent of a student who will spend the next 4 years at UCSD then I say YEs. There's alot of inventory up there, especially 1 bedrooms. Ideally finding a 2 or 3 bedroom unit would be ideal in that you can find tenants/roommates for the other rooms to help offset your mortgage. Tread cautiously however, the area around UCSD although it has a 92037 zip code (La Jolla) is NOT La Jolla, and never will be. Hope that helps! Cindy Greenwald Prudential CA Realty 619/435-0101
0 votes Thank Flag Link Sat Jan 12, 2008
Emy:

I failed to include a link for a real time market report on the La Jolla real estate market.

Just click below:
0 votes Thank Flag Link Sat Jan 12, 2008
Roberta Murp…, Real Estate Pro in Carlsbad, CA
MVP'08
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