Investing in condos in UTC and Miramar area, San Diego CA

1 Reply

Hi Karim welcome!

I like the University City area for buy and hold investing. The student population of UCSD, proximity to hospitals and great schools in the area make renting out the properties straightforward if you are not going to occupy the property. The condos in 92121 and 92122 have been steadily climbing in value from about $390,000 in 2015 to $550,000 in 2020. The 92121 market is competitive with low inventory currently. 92122 has considerably more options but is also a bit farther from your target area. Watch out for high HOA fees and low owner occupancy rates that can make it hard to get financing.

If you are looking for an off-market deal maybe start with absentee owners that have owned for 3+ years. I know it is common for the parents of university students to buy condos for the duration of their kids university education. 

Best of luck to you!