San Diego’s Five Best Neighborhoods For Fix & Flip Properties
5 Best Neighborhoods in San Diego for Your Next Fix and Flip
Located next to the ocean and 2 hours south of Los Angeles, San Diego is called “America’s Finest City” for a reason.
The combination of perfect weather, pristine beaches, beautiful parks, and big city feel attracts people from all over the country looking for a taste of the Southern California lifestyle.
Despite an initial hit from the pandemic, the housing market in San Diego is heating up again.
The median home price has reached a new peak of $600,000, due to a swarm of buyers trying to take advantage of record low mortgage rates.
When looking for potential flips (or for virtual wholesaling), property prices are higher in San Diego compared to the rest of the country.
When searching for “fixer uppers” on Redfin, prices range from $350,000 to over $800,000.
Nevertheless, San Diego is very much a seller’s market right now, and if you are lucky enough to snag one of these properties, you can expect to have buyers lining up at your door, bidding up the price.
Many San Diego real estate investors have been using private money loans to stay competitive in the market.
Offers using these types of loans are viewed more favorably by sellers than traditional banks loans are other forms of funding.
Here are the 5 best neighborhoods in San Diego to check out for your next fix and flip:
This tranquil neighborhood is located east of downtown and has easy access to the freeway that can reach any part of the city.
Located in the center is Chollas Lake Community Park, a gathering place for families to enjoy the outdoors and sunshine on the weekends.
Median home value is on the lower end at $406,000 and forecasted to appreciate 5.5% according to Zillow, which makes this area great for bargain hunting.
El Cerrito translates to “little hill,” and most homes built on this hill will have spectacular views of the city.
This cozy area is right next to San Diego State University and was once named the nation’s hottest neighborhood by Redfin for its affordability and “hidden gem” status.
Median home value is $423,100 with a projected growth of 4.8% based on Zillow’s estimates.
Less than one hour to the north of the city is Oceanside, a beach town in San Diego county.
Despite being a popular tourist destination, properties remain affordable with a median value of $486,700 estimated by Zillow.
Based on San Diego Magazine’s numbers, Oceanside was tied with Oak Park and El Cerrito/Rolando for the zip code with the most flips, making it a hot market for your next project.
Rolando is another residential neighborhood in the same area as Oak Park and El Cerrito.
It is famous for its catwalks that allow you to traverse its many rolling hills.
According to Zillow, median home value is a bit higher at $503,700, but still below the median home value across San Diego.
Located to the south of Oak Park on the other side of the freeway, Encanto is known for its smaller, older homes, which makes it a great place to invest.
As it attracts more and more residents, the city continues to improve the neighborhood’s infrastructure and amenities with the Encanto Neighborhoods Community Plan.
The median home value estimate is $424,400 according to Zillow.