Should I sell my condominium building?

[Christopher Russell]

I'll try to keep it short, bought a building in downtown Delray Beach Florida for $150K 2 years ago. Since then the city has expansion is going NUTS! The city was just rated most fun small city in America. It's a South Florida beach town and my building is in the best area in town, one block off of the intracoastal. Currently we are making 60% profit monthly, so it's a cash cow. The city just approved a HUGE plan for a Delray City Place which will be amazing for the areas, values will prob skyrocket. I'm just worried about apartment over saturation. Not only that building, but many others are going up. All of the buildings on my block have sold, as the investors are moving in. Comparables are around $400-$500K as of now so the return would be good. It's a tough decision because if rental values drop due to over saturation of available units, I will have wish I let it go. Part of me thinks if one particular area balloons due to hype and plans for expansion, should one cash out and take coin to other areas while they are still low?! Or should one keep their score in the best area possible as a portfolio permanent position? Hmmm this is always the hardest part of real estate investing! Buying the good deal is easy, but selling it is always hard when it's bringing in monthly residuals and the only place it can go is up up up. Anyone have advice or comments? Thanks in advance