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:
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.