sell or lease out santa monica condo

[Fransisca R.]

I own a high end 2 bed 3 bath condo in the 90403 zip code of Santa Monica. It was built 5 years ago. We unexpectedly had another baby and so I would like to purchase a single-family home for my growing family in the near future but am unsure as to what to do with my current residence. I don't need to sell it to buy another property and as we have only owned it a few years we are thinking it might be smarter to just hold onto for a while and let it accumulate in value a bit more as the majority of the growth we've had on the home will go to real estate fees etc. We can refinance and rent it out and make a small profit. My husband thinks we should try and keep it because over the next 10/15 years it will likely accumulate in value because it's in such a desirable zip code. Then we can sell or keep as an income property when we eventually retire.

Just curious to hear what people think the smartest financial move would be.

Many thanks in advance