I am curious how investors from the La and Bay areas view real estate investment on the central coast of California? By Central Coast of California I mean from Santa Maria to Paso Robles. Particularly in the multi family residential niche. Let me know your thoughts, feelings on growth, appreciation, values being high or low, desirability, any insights you might have. Thanks in advance!
Always look where you don't have to worry about lots of new competition. So geographical barriers prevents new development - there's only so much land along the water, or so much land at the foot of a steep mountain.
You'll know there can't be any major expansion unless they go inland, and you'll still have the better coastside property anyway. Paso Robles is great wine country - but I don't know if the real estate has already matured around that, or for that matter if the wineries are growing or already as big as they're going to be. If you think there's lots of room for growth in Paso Robles wine, then I think that's an area to look at. Big (growing) employers, lots of tourism, nice weather. And of course if there are any other major contributors to their economy, as I don't know the area that well myself.
@Max Zappas I would expand you definition of central coast down to Santa Barbara. Multifamily is a great investment here if you can find something off market.