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Where would you invest in Northern California today with the highest return?
2012 Aug 30, 10:13am 24,847 views 45 comments
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Read this article first to get psyched about West Oakland.
http://www.sfgate.com/business/ontherecord/article/Rick-Holliday-king-of-the-condos-3824246.php#photo-3362069
Then try this one on for size:
http://www.redfin.com/CA/Oakland/1627-11th-St-94607/home/1364261
Or for a little more elbow grease:
http://www.redfin.com/CA/Oakland/1730-8th-St-94607/home/1755919
For West Oakland BART properties, though, I think you need what they call the 'long view'.
Sacramento (central valley, I know) has taken a beating and there are some very cheap houses there. I don't love the area but I think you might make some money. Nearby Elk Grove has many houses that are nearly new and absolutely dirt cheap. I am not terribly familiar with the area so I can't tell you about crime, schools or rental demand. Also nearby, Roseville was an up and coming community before the crash. There might be less dirtbags there but I’m not sure about prices.
If you can stretch a bit, you can pick up a decent 3 bed 2 bath townhome in Danville for around $350k, maybe lower. There is low crime or no crime there and generally good rental demand with high rent prices. They are not always available but they do come up. It’s close to the areas you have been looking in.
http://www.trulia.com/sold/Danville,CA/#sold/Danville,CA/3p_beds/2p_baths/price;a_sort
I would definitely look in Pleasanton, Dublin and San Ramon. You might find more to choose from there.
Biff
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Hi folks,
For the past 9 months or so I've been hunting for real estate rentals in the Bay Area. I've primarily been looking in the Concord/Pittsburg/Bay-Point areas.
My criteria is less than $250K, near a BART Station, 3+ bedrooms. 9 months ago it seemed like there was more inventory and recently the prices have really been squeezed up discouraging me from continuing to look in these areas. As a result, I've started looking at other areas but could use some guidance.
I know the investment gurus typically don't like to share their secrets, but I'm wondering if anyone can recommend any areas in northern CA. I'm looking at this from two angles. The first is return from rent and the second is equity upside (ie: a house in Concord will appreciate faster than a house in the central valley for instance).
From this Redfin plot, it's indicating a market surge of ~16% in 2012 for Concord, CA.
#housing