Which Irvine village offers best value for investment property?

Cornflakes

Cornflakes

Active member
I know I know, Irvine is not optimal place for investment properties to begin with. But, if one was to choose Irvine for buying an investment property, which village offers the best value? What kind of Cap Rate? What kind of property? What MR/HOA?
 
Cornflakes said:
I know I know, Irvine is not optimal place for investment properties to begin with. But, if one was to choose Irvine for buying an investment property, which village offers the best value? What kind of Cap Rate? What kind of property? What MR/HOA?
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Depends. How much money are you planning to drop?
 
We are talking villages here, so no multi family units. Because its investment property, it will rule out close to and above seven figures as well, no?
 
Detached condo would be your best bet. It is easier to rent out and easy to unload. 3 BR + loft is ideal. Those with a BR down works with a roommate situation. Price point between 600k to 700k; 1,550 sf- 1,750sf.
 
The California Court Company said:
go for older villages that are close to 405/5 with low HOA/mellos; fixer upper with larger lots.
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Didn't you read about the new IUSD bond proposal? That will be for the older villages.
 
I think a 3 BR condos in any one of the newer villages (< 15 yrs old) that have schools in walking distance are a good bet - Woodbury, Stonegate, Cypress Village, Quail hill come to my mind.
 
irvinehomeshopper said:
Detached condo would be your best bet. It is easier to rent out and easy to unload. 3 BR + loft is ideal. Those with a BR down works with a roommate situation. Price point between 600k to 700k; 1,550 sf- 1,750sf.
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Not really, you can buy a 1600+sq ft attached condo in PS just like I did for 550k
 
Purple said:
I think a 3 BR condos in any one of the newer villages (< 15 yrs old) that have schools in walking distance are a good bet - Woodbury, Stonegate, Cypress Village, Quail hill come to my mind.
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Lol, i would rather save my 100k and drive 2 miles to a school than walk and bear that brunt.
 
I think this post was meant for buying investing, so having one near schools is a selling point, get family renters, they tend not to move around as much.
 
dream16 said:
Purple said:
I think a 3 BR condos in any one of the newer villages (< 15 yrs old) that have schools in walking distance are a good bet - Woodbury, Stonegate, Cypress Village, Quail hill come to my mind.
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Lol, i would rather save my 100k and drive 2 miles to a school than walk and bear that brunt.
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do you have kids yet? believe me, having schools within walking distance is a HUGE plus when you factor in the traffic and pick up/drop off lines.
 
nyc to oc said:
dream16 said:
Purple said:
I think a 3 BR condos in any one of the newer villages (< 15 yrs old) that have schools in walking distance are a good bet - Woodbury, Stonegate, Cypress Village, Quail hill come to my mind.
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Lol, i would rather save my 100k and drive 2 miles to a school than walk and bear that brunt.
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do you have kids yet? believe me, having schools within walking distance is a HUGE plus when you factor in the traffic and pick up/drop off lines.
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"HUGE plus" is an understatement.  Many people require that schools be walking distance, otherwise they won't consider the property.  Thus the "100K" price increase.
 
Cornflakes said:
I know I know, Irvine is not optimal place for investment properties to begin with. But, if one was to choose Irvine for buying an investment property, which village offers the best value? What kind of Cap Rate? What kind of property? What MR/HOA?
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First, what is your reason to want to buy investment/rental property in Irvine, when you already know it's not an optimal place to do so?
 
momopi said:
Cornflakes said:
I know I know, Irvine is not optimal place for investment properties to begin with. But, if one was to choose Irvine for buying an investment property, which village offers the best value? What kind of Cap Rate? What kind of property? What MR/HOA?
Click to expand...

First, what is your reason to want to buy investment/rental property in Irvine, when you already know it's not an optimal place to do so?
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Same reason people smoke when they know it's bad for them, or eat ice cream that will make them fat. 

When your addicted to something, it's not easy to quit even though there are obvious better options.

 
WEST IRVINE. Low Mello and NO HOA.......Next door Orchard Hills so you will get those comps....Renters are great and fairly easy to get the best rental price for your investment. Near the Market Place...Just to name a few.
 
I would also say that a distressed Condo, Townhouse, or 3/2 SFR in West Irvine would have the better CAP rate in Irvine vs a brand new house in Portola Springs or Orchard Hills which would have the worst CAP rate.

I guess any property in Irvine will cash flow if you put down 50%, but is that the way you want to invest your hard earned capital in real estate? I don't think so.
 
Cornflakes said:
I know I know, Irvine is not optimal place for investment properties to begin with. But, if one was to choose Irvine for buying an investment property, which village offers the best value? What kind of Cap Rate? What kind of property? What MR/HOA?
Click to expand...

Irvine simply sucks for investments.  Im not sure why anyone would even entertain this idea unless you were playing for appreciation... which is just as foolish as investing for cash flow in Irvine.  So to answer your questions, no village offers a value, cap rates would likely be around 2% range at best (considering you correctly factor in all costs), no type of property will help you to make money in Irvine, and MR/HOAs will only make things look worse.  On a side note, since most people will finance these properties, you should be looking at cash on cash returns, not cap rates...  that will likely be negative near double digits.  So what property are you looking at again?
 
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