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Updated almost 4 years ago,
Time to sell my SFH in East Oakland, CA?
Hi all, looking for your advice.
I bought a partially-renovated 3bdrm/1ba SFH near the BART (subway) in 2015 in the Fruitvale neighborhood. I house-hacked for 4 years, fixed up the house, and while I still keep my bedroom there, I now live at my partner's rented apt in San Fran because of the pandemic. At the house there are drug dealers out in front, at all hours w/ their loud music, partying and leaving trash. There seem to be more and more guys hanging out overnight as the pandemic continues. I am considering selling this spring, and here is my pro/con list. Looking for any and all advice.
PROs to Selling
- If I sell I will get ~200K in profit
- No more living w/ my tenants
- No more fixing the house and worrying about it.
- Still qualify for the owner-occupied tax break when selling
CONS to Selling
- Won't have my own place if I break up w/ my partner.
- Potentially will lose appreciation and equity in what was gonna be an awesome house right near BART and a new rapid transit stop.
- Feels impossible to buy in the Bay Area again. Not just b/c it's expensive but because the process is a nightmare.
Your thoughts? I'm really stuck. Thanks.