The San Diego area is a fantastic place to get started with apartment investing, and there’s no better time than the present to invest. According to the President and CEO of the National Apartment Association, Bob Pinnegar, the San Diego apartment market is one of the primary markets in the entire state, and the opportunities abound for making good investments in the region.
Areas such as Mira Mesa, Mission Valley, Normal Heights, Hillcrest, University Heights, Bay Park, North Park, Rolando, Birdland, Bay Ho, La Jolla, and Ocean Beach are just teeming with opportunities for apartment investors. With the city of San Diego becoming a boom area, attracting people from all over the country to re-locate, there has never been a better time to invest in real estate properties in the area.
The facts and figures
According to a study conducted on behalf of the National Apartment Association, apartment renters infuse nearly $50 billion annually into the local economy, making them huge contributors to the success of San Diego lifestyles. Apartment projects continue to be in high demand throughout the region, and the only thing acting as a brake on this demand is the shortage of apartment complexes currently available. In the third quarter of 2019, sales of apartment complexes which sold for at least $2.5 million reached a whopping total of $573 million in the San Diego area, which represented an 18% increase over the third quarter from the previous year, and a 53% increase over the second quarter of 2019.
There’s no doubt that the San Diego area is an ideal one for apartment investing right now – but that doesn’t mean that every single investment will be a profitable one, and that you’ll get rich just by purchasing any apartment complex in the area. Investing always carries some inherent dangers, so it takes some research and some knowledge of the local market in order to make the right investment choice. The demand for apartment housing is especially strong in the region now, with the lure of the city itself providing a powerful attraction to people wishing to enjoy the benefits of living here.
But you can’t expect to just pick any apartment complex, and think that it’s going to be a cash cow for you. Smart investing calls for finding the right property in the right neighborhood, and a property which won’t simply become a drain on your finances and cause you to lose money. That’s where Sunset Real Estate services can provide a huge assist to you. We know the entire area and the local housing market intimately, and we can match up your financial objectives with the perfect property to help you achieve your financial goals.
When you’re ready to make an investment in an apartment complex or other rental property in San Diego, we hope you’ll contact us so we can help you avoid any potential missteps, and actually earn a profit from your investment. In addition to providing expert financial advice on property investments around San Diego, we also offer a property management service, which can relieve you of all the headaches associated with operating an apartment complex.