All Forum Posts by: Amy Sacco

Nicholas-

You are absolutely correct. Let me give some more information. I bought my unit in 2019 for $465,000. I put $250,000 down with an interest rate of 3.5%. My current loan is for $210,00 and I'm in the process of refinancing for a 2.8% interest rate. My monthly payment including the $240 HOA will be around $1700 which is very comfortable for me.

The unit next door that I'm contemplating buying was bought in 2007 for $430,000. Comps for a 2b/1ba that close to the beach are around $600,000. I really do want to stay where I'm at and buying this nextdoor unit would allow me to truly be at ease living here since the unit nextdoor is who I have the most issues with. Is this a viable option? I'd be tying up more of my money but owning properties in San Diego so close to the beach will always go up in value. This area is also 25% owner occupied, the rest are renters. So I know I wouldn't have trouble renting it. 

I hope this info helps!

I currently own a 1b/1ba unit in a 4 unit condo. There are two units downstairs and two upstairs. I love everything about where I live ( Ocean Beach, San Diego, 1/2 block from the water, the size of my unit, walking distance to everything I need) but I am the only owner occupied unit in my building. Two of the other units have tenants who are less than ideal. I have talked to their landlords multiple times and some things have improved but I'm still stressed out every day (noise, parties, junk in shared spaces) and it's caused me to second guess myself even buying this property in the first place. The other unit above my is empty most of the year which is really nice since the owner doesn't live on site and doesn't rent it out. So, my biggest issue are the tenants next door. The walls are thinnnn and I hear everything.

I had this idea the other night to just buy it! If I owned the unit next door I could screen the tenants/my new next-door neighbors and my problems would be solved. It wouldn't be hard to rent, its 2b/1ba just steps off the beach in a great little beach town with restaurants, shops, and bars all in walking distance. But I'm wondering, what are the downfalls of owning 2 of the 4 units in a condo? Also, Im not even sure if the owner is looking to sell. I would have to make a pretty high offer and then I'm not even sure if it would be worth the money. Maybe I should just rent or sell my unit and buy or rent somewhere else?

ANY advice at all is much appreciated. Thank you!

-Amy