One Paseo Apartments For Rent: 92130

[an]

[quote=The-Shoveler]AN do you know what the rent is there?

If it is in line and not completely outrages for the area it could explain why.

if it is 3X times average rent for the area (or something close) then it would boggle my mind why anyone would rent there but whatever they want.

We have a recent grad driving a new Porsche working here, not something I did first starting out but maybe he has more passion for driving than I did LOL[/quote]
It’s about $200-300/month more. Definitely not outrageous. If you like new places and the amenities, then you can easily justify the $200-300/month more. That comes out to about 5-15% more that older condo/apartments.

[Coronita]

[quote=AN][quote=The-Shoveler]AN do you know what the rent is there?

If it is in line and not completely outrages for the area it could explain why.

if it is 3X times average rent for the area (or something close) then it would boggle my mind why anyone would rent there but whatever they want.

We have a recent grad driving a new Porsche working here, not something I did first starting out but maybe he has more passion for driving than I did LOL[/quote]
It’s about $200-300/month more. Definitely not outrageous. If you like new places and the amenities, then you can easily justify the $200-300/month more. That comes out to about 5-15% more that older condo/apartments.[/quote]

Really? if that’s the case then did they lower their prices???… I recall they we’re closer to around +$4-500 for a 1/1, at least that was what they use to list it at.. either that , or the privates has been jacking up the rent so the difference is not that great. most of the H1Bs that I spoke to didn’t want to rent their because they considered it way more expensive. But then again, there wasn’t much supply either in the private sector… ok, maybe times have changed.

[FlyerInHi]

Shoveler, I was talking to a friend and we think that because the interstate highway system is now complete, urban development will be more like Canada and Australia where housing closer to the CBD will be more expensive. But there is still a place for the suburbs.

[gzz]

I can see why it is so much, right off the 5 and next to Del Mar and UCSD.

Still, the rent per sq foot is 50% more than I rent my OB condo with a full ocean view and 1 block walk from the beach.

I can’t complain about the price appreciation here, but rent growth has made us go from one of the more expensive parts of San Diego around 2005 to basically in line with inner suburbs and parts of SD with lower rated schools (OB Elementary is a 9/10 and the 10/10 Silvergate is walking distance too.)

I’d like to see Sports Arena, the old postal complex, and Qualcomm stadium all become big tech campuses. Rent growth for us “Southerner” landlords along the 8!

[The-Shoveler]

I was looking at the projected population growth for California between now and 2050.

It is projected to grow by approximately 25% over the next 30 years (10 million). That’s a lot of people people!

(But still an underestimate IMO).

[gzz]

Just happened to see a NYC address in a Columbus Circle 1970s tower and decided to check it out.

For $1 million 750 sq ft 1-bedrooms, the rents are about $3500-4000 while the mortgage + tax + insurance are $5500 with 10% down. With the mortgage interest deduction and no rent increases to worry about, buying does make sense, but just barely.

So San Diego rents are still much lower, but our returns to landlords and buying v renting for residents are also better.

It says “dogs allowed”. I like dogs, but image a 280-unit 30 floor building that is mostly studios and 1 bedrooms in dense city area with dogs. Seems noisy and stressful for both the dogs and residents.

By contrast, here’s a large SD downtown building, Discovery at Cortez Hill. It is mostly 2/2s around 1200sf and has a rooftop poll and doorman. The common 2/2s rent for about $3000, but cost about $740,000, and have lower property taxes and similar HOA.

[FlyerInHi]

One Paseo is the main-street-fication of the suburbs in the form of the lifestyle center. It’s part of the evolution of the suburbs.
This guy has a good explanation of the lifestyle center.

Some Asian friends of mine were excited by the new HMart. They should build a new one in Carmel Valley. I’m sure they could charge 20% more for the same products.
It shows how boring San Diego still is when people are excited by a supermarket.
Anyway, it would be fun so see non-asian shoppers become apoplectic about the “traffic”.

[FlyerInHi]

[quote=gzz]Just happened to see a NYC address in a Columbus Circle 1970s tower and decided to check it out.
[/quote]

I don’t know that you can compare Columbus circle to San Diego.

Discovery at Cortez is isolated from the rest of downtown. Not the best location, but some people do like it there.

I think that if you compare San Diego to las Vegas, or Phoenix, or Riverside, the returns here aren’t that great. if you only care about ROI, then you can do better than San Diego elsewhere.

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