I'm sending two young boys to college at san diego state. I would like to invest in a small...

Asked by Mario, San Jose, CA Fri Oct 5, 2007

I'm sending two young boys to college at san diego state. I would like to invest in a small 2 bedroom condo or town home in the area instead of paying rent for the two of them in an apartment or at the dorms. What are some areas i should take a look at? I would like it to be in good condition in and somewhat desirable neighborhood so that i can resell in 3-5 years. What are the price points looking like? How is the market in that specific area?

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Carolyn Buny…, , San Diego 92106, 92107, 92109
Sat Oct 6, 2007
Dear Mario,
If your boys will not have cars, then the closer they are the better (Del Cerro is north of the freeway 8 and closest to SDSU). But, if they will be driving, then you have many desirable areas to choose from.
Since you mentioned wanting to be able to re-sell this condo in 3-5 years, I would recommend Pacific Beach, and even Downtown, since these areas continue to be popular with people of all ages, but are especially popular with the younger generation.

I won't quote price points here becuause prices are dropping every day. And as soon as I print a number here...those stats could be different. There is even the chance that things will be very different by the time you are ready to buy.
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Pam Winterba…, Agent, Danville, VA
Fri Oct 5, 2007
San Diego is a great area to pick up investment property. I would suggest staying as close to the university as possible and a condo or townhome is quite desireable. Your price point will be in the mid 200K range to 350K.
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James Baker, , 92008
Fri Oct 5, 2007
Congratulations to you and your boys. A purchase in this area is a great idea. There are several 2/2 condos with 1000+ square feet of living space within 2 miles of the campus in Zip code 92120. The price point for this area would be $235K to $300K depending on ammenities. I would suggest a home north of Highway 8 as an area that will hold value in our volatile San Diego Market. Public transportation in this area is very good with bus and trolley connections nearby. Recreation is also close with fishing, hiking and outdoor sports at Lake Murrey.
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Patti Philli…, , Carlsbad, CA
Fri Oct 5, 2007
Mario, You can have your pick of great properties in the area. The 92122, 92120, 92115. Del Cerro, Lake Murray area- there are many. In just those 3 zipcodes there are over 160 properties under $350K that you can choose from. Many of them are in great locations and very good looking! If I may help you in any way- let me know. We'll find the best investment for you, and a great place for your sons to live while going to school!

Patti Phillips
Relocation Specialist
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fredeckert, Agent, San Diego, CA
Fri Oct 5, 2007
There are at least 30 bank owned (REOs)condos in close proximity to San Diego State that are all listed under $350,000. I can help you find an agent specializing in finding bank owned properties. You can find even better bargains on the properties that have been listed the longest.
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Mario Pinedo,…, Agent, Cupertino, CA
Fri Oct 5, 2007
Have you considered perhaps a fourplex? The price per unit is going to be much lower. Cashflow would be better too. It would also be an easier property to hold on to after your kids graduate.
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