Advice - Keep or Sell LA Condo?

[Megan Alice]

Hello BP community, I am in need of advice on whether to keep or sell a condo (2 bed, 2 bath) in LA (Frogtown/Elysian Valley) that I purchased in 2017. Complex was built in 2017 so no rent control.

Purchased $480,000, down payment ($127,000) at 4.5% fixed 30 years.

P&I: $1,789, Property tax: $500, Insurance: $30, HOA: $331 = $2,650 per month. I realize vacancy, repairs, cap ex also need to be figured into expenses.

Currently charging $2,600 for rent but could go up to $2,750.

So when considering all expenses, potential rent, tax benefits this is break-even at best.

The reason that I am considering selling is because my down payment cash ($127,000) is tied up and I may want to purchase something within the next couple years. If there is a downturn in the market, I would want to have cash ready to invest. Also, if there is a downturn, my condo might be impacted by it. Current market value is $550,000. I understand I will be paying about 6% in closing costs, etc as well as capital gains.

Advice from you all would be very appreciated!