Where do you think the best areas to invest in San Diego are? Looking for a 3 or 4 unit building?

Asked by Arn Cenedella, Greenville, SC Thu Jan 22, 2009

Lookng for current investment and possible retirement residence?
Looking for solid neighborhood with services within walking distance - shops, coffee places, restaurants, etc.
Eclectic fun neighborhood.
What kind of gross rent mutliplier should I expect?

Help the community by answering this question:

+ web reference
Web reference:

Answers

10
James Baxter, Agent, Encinitas, CA
Tue Feb 17, 2009
If you are looking for multi units. I would point you towards Hillcrest or down town. Be careful the areas can be real hit and miss. I think (last time I checked) GRM's are in the 8-10 range. With Hillcrest you will be in a very desirable area close to down town and will have a good change of better renters.

The other areas would be on the coast between Carlsbad to La Jolla.

Good Luck
0 votes
Kimberly Sel…, , Escondido, CA
Sun Feb 1, 2009
Check out 1269 E. Ohio in Escondido. Priced well and with an adjustment in rents, will be a money maker. 3 units for $410,000.00. Price is negotiable! You can view this property on http://www.kimberlysellars.mywindermere.com.
0 votes
David, , La Jolla, CA
Mon Jan 26, 2009
I have been turning my investors on to property that provide immediate cash on cash return. Like another agent mentioned earlier, you can not go wrong with prop that rent for 1100+ with purchase prices under $90K
Web Reference:  http://www.renter2buyer.net
0 votes
California R…, , San Diego, CA
Sun Jan 25, 2009
Arn,

We specialize in investment properties throughout California and can provide you with an excel based pro-forma which you can use for multiple areas. If you still need help please feel free to contact me.

Patrick A. Hale
President & CEO

CALIFORNIA REAL ESTATE & MORTGAGE
Toll Free: (866) 538-6057 I San Diego: (619) 309-7883
National Real Estate: http://www.REoftheUSA.com
California Real Estate: http://www.REofCalifornia.com!
0 votes
Dawn Lewis, Agent, San Diego, CA
Fri Jan 23, 2009
Arn,

Many areas in San Diego are great for investing. You should be looking for the ones that really stick out in this down market for being undrepriced and having great rents. Most areas will do just fine - look for the diamonds not noticed by other investors.

Dawn Lewis
http://www.dawnsellssandiego.com/
0 votes
Nick Rhea, , San Diego County, CA
Thu Jan 22, 2009
Hello Arn,

My suggestion, without knowing all of your goals, is to separate the investment property from a place you want to live. The best positive cash flowing properties, and probably your best 5 year returns, are in areas hit hard by foreclosures and places you may not chose to retire.

There are some properties located in SDC right now for under $100K that will quickly rent for $1300/month. Please reach out to me If you would like to discuss further. I work with investors from other countries and across the US.

Nick Rhea, MBA, Broker
Bombora Investments, Inc - President
619-886-2004
nick@bomborainvestments.com
0 votes
Katrina Hami…, Agent, San Diego, CA
Thu Jan 22, 2009
Hi Arn,

I understand, it's just that there are currently 40+ 2-4 units in that area ranging from $400 - $800k so you can see how the GRM would be difficult to pinpoint. Again, if I can be of assistance with any comps please feel free to contact me.

Sincerely,
Katrina Hamilton
Direct: 858-405-4407
Web Reference:  http://www.downtownREOs.com
0 votes
Arn Cenedella, Agent, Greenville, SC
Thu Jan 22, 2009
Katrina
Thanks for the response.
I understand that the GRM is based on price and rents.
In Hillcrest/North Park, there should be a typical GRM.
If you were to buy a 4plex for say $800,000, what kind of rent could one expect to get?
Would the units rent for $1,500 each - $6,000 per month - $72,000 a year gross income - therefore priced at 11+GRM or would the units rent for $1,000 each - $4,000 per month - $48,000 a year gross income - therefore priced at 16+ GRM.
I am just trying to handle a handle relative to my market area in the SF Peninsula.
Thank you.
Arn
0 votes
Cassandra Up…, , San Diego County, CA
Thu Jan 22, 2009
Arn,

Depending on how much you're looking to spend, I would say La Jolla. It's a location that will always be in demand for multiple reasons; beauty, tourism, UCSD, the Village and so much more. I can't advertise properties on here due to spamming issues however, if you choose to contact me, I can provide you with additional information that may help you with your question and potential search.

Take care,
Cassandra
cassandra@cassandrauphaus.com
0 votes
Katrina Hami…, Agent, San Diego, CA
Thu Jan 22, 2009
Hi Arn,

There are several great areas in San Diego, but the first that comes to mind is the Hillcrest/North Park area of San Diego. Just the other side of the 163. Centrally located, rents and property values are very reasonable right now. GRM is of course going to be based on the actual purchase price and expected rents. Best would be to designate an area and I'd be happy to forward comps on sales and rents. Let me know if I can help.

Sincerely,
Katrina Hamilton
Direct: 858-405-4407
Web Reference:  http://www.downtownREOs.com
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more