San Diego 2-4 Investors December Report 2022

Dear Landlords and Investors,

The principles of leverage, supply, demand, and ROI still push appreciation. San Diego has proven to be a wise location for your investment dollars. But, don’t become complacent. Don’t lose track of why you are investing, regardless of how successful you are. Dealing with unexpected issues can make or break your business. So of course, you’re right to want to understand how the current market affects your property values. You deserve expert guidance. Here are details on what you need to know now:

RENTS CONTINUE TO RISE DESPITE A SLOWING ECONOMY

A recent headline caught our eye from the “Times of San Diego”. Tom York on Business: Despite National Slowdown, Apartment Rents Still Rising in San Diego. In fact, we just spoke with a couple of other 2-4 unit owners. They were asking how much they could raise their rents based on AB 1482’s rent control act. We explained the max allowed is 10% this year. Overall rents are up 7.4% over last year at this time in San Diego. SD is ranked #9 on Redfin’s top-10 list of US Metros where rents continue to rise. This is in spite of the slowing national economy.  We all know housing is expensive. The fact is in SD the average rent for a 1-bed is now $1,888 and a 2-bed is now at $2,404. We’re curious, what are your rents at? If you need some help determining the average rent in your area, reach out to us. 

https://timesofsandiego.com/business/2022/12/13/tom-york-on-business-despite-national-slowdown-apartment-rents-still-rising-in-san-diego/

COMING SOON DUPLEX IN CHULA VISTA

Looking for a great duplex? We’ve got one that will be ready right after the holidays. And this is one of our favorite types of properties. Because it doesn’t live like a traditional multi-unit! Built in the 80s, which is considered newer construction here in San Diego. At least when it comes to units. And even rarer you’ve got side-by-side mirrored units. Both are 3 bedrooms, 2 ½ baths, two-story townhome-like units. Very unusual configuration. Plus each has a two-car attached garage and on-site paved parking. With separate backyards, utilities, laundry, and plenty of off-street parking.

You’ve got a duplex that brings in rents like a 4-plex. And the location is outstanding! A quiet dead-end, cul-de-sac street. Right off of Hilltop. Situated within nice newer single-family homes. One unit is clean and vacant. Ready for a new tenant. The other unit has a long-term tenant. This place is perfect for an owner-occupied getting into the market. Or an investor buyer. And it will go VA, FHA, or conventional.