I agree a leverage can be done here. This condo seems a little attractive in this case. But would the market psychology keeps driving the price down?
Also the supply of condo in SD seems huge (I have no number though), as I seem builders have converted rental properties to condo and then built many more new complex. There are several new rental propertied built near I-805 and La Jolla village dr, where is near this property you are talking about. If you get this property, will you have problem renting it out later? That’s my concern about it.
