LA JOLLA PROPERTY MANAGEMENT

ABOUT LA JOLLA

Considered the jewel of San Diego, the town of La Jolla is a popular spot for all ages. People love to retire in this area because of its walkability, boutique shopping, and cute cafes. Some of the most beautiful homes in the county are in La Jolla. Whether you live in Windansea neighborhood or right by the shores, you’ll love La Jolla.

There is an assortment of great dining options right by the water. Duke’s is popular spot for tiki drinks and great seafood. Down the street you’ll find George’s at the Cove, where you can dine on the rooftop overlooking the ocean. After you eat, head over to one of the many shopping options down the street. One of San Diego’s best independent bookstores is on Girard Avenue, called Warwick’s Books. Be sure to check out their staff recommendations! There are plenty of activewear stores in the area, from Lululemon to Lorna Jane.

If you have children, there are a couple great elementary schools in the city, namely La Jolla Elementary and Torrey Pines Elementary. La Jolla high school is close by as well and recognized for its high test scores. Rent prices in the area tend to skew higher than other beach cities in San Diego, likely due to the high demand.

La Jolla Home Prices 

These are the stats as of October 2021. For monthly stats, visit the San Diego Association of Realtors website

La Jolla 92037 Single Family Homes: $2,845,000 median price (year to date average) 

La Jolla 92037 Condos: $847,500 median price (year to date) 

La Jolla Rental Rates 

La Jolla rental rates are much higher than a lot of other areas in San Diego. Single family homes can reach $6,000/month if there are decent number of bedrooms. One and two bedrooms range from $2,300/month to $3,500/month. 

Pros of Investing in La Jolla 

La Jolla has stunning luxury and historic properties. It's proximity to UCSD means a high renter demand from April to September. 

Cons of Investing in La Jolla 

Luxury rentals can have higher vacancy time due to niche renter base (not many people can afford rentals in the area). Positive cash flow is almost impossible here due to the price-to-rent ratio. 

La Jolla Prices

Neighborhoods by Price 

As shown in the map above, La Jolla is an extremely expensive area to purchase in. The darker the area is, the higher the purchase price. 

Sample Deals for La Jolla 

2450 Azure Coast Drive - Full Deal Report 

  • $960,000 purchase price ($220,800 cash needed) 
  • -$1,980/month cash flow 
  • 2.1% cap rate 
  • -10.8% COC 
At $960,000, this was the least expensive 3B detached home sold in La Jolla in the last 12 months! It's still very nicely upgraded and just minutes from the scenic La Jolla Cove and downtown La Jolla. For a wealthy investor, it isn't too brutal of a monthly loss for a long term investment.
 

6767 Neptune Place #105 - Full Deal Report 

  • $1,950,000 purchase price ($448,500 cash needed) 
  • -$3,821/month cash flow 
  • 2.2% cap rate 
  • -10.2% COC

How do beautiful views of the famous Windansea beach from every room of your condo sound? Amazing, undoubtedly. Well they come with a price tag of nearly $2 million and monthly HOA fees of $800! Even though this 2B unit would rent for somewhere near an obscene $8000/month, you would still be heavy in the red as a rental investment.

La Jolla Property Management

Good Life Property Management has become experts in La Jolla property management over the last 7 years. As a result, we know how to effectively market and manage your La Jolla home. We find that days on market are average when compared to other areas and vacancy is about average as well. La Jolla property management can be challenging, but doesn’t have to be with Good Life.

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