I looked at a few units on Lebon Dr. (not sure of name of complex, but it may have been one of those) a year or two ago. They were selling for $150-200k for a one bedroom, but the broker mentioned (and research confirmed) multiple lawsuits between the developer and the HOA. Construction also seemed ultra-cheap, even by San Diego standards.
If you’re looking for a one/two bedroom, I’d either wait — the frenzy of last year is basically over, and appreciation has calmed. Hopefully the slowdown of QE3 and ensuing higher mortgage rates will put the kibosh on further growth in that department for the next year or two.
Other thing is that two bedrooms south of $300k ain’t exactly hard to come by. Get yourself a Listingbook account and search. You probably won’t find one without problems in UTC, but there are plenty of other decent neighborhoods where you’ll have no problem finding one.
Verano at least seems to be on the other side of Rte. 5, at least a mile from Black’s Beach and on a busy road. Not terribly walkable. What’s the advantage vs other more working-class areas to the south and east?
