AT&T Park (San Francisco) Condo: I should sell, right?

[Annelyse Finley]

Two years ago I bought a condo next to AT&T Park (San Francisco). I did not buy this unit as an investment. I bought it to live in. Because…

…every morning I get to go for a jog on the Embarcadero and see the sun rise over the Bay Bridge and--on really long runs--the Golden Gate bridge too.

…I get to watch World Series baseball in my front yard every even year.

…Public House has a rotating draft beer menu that rivals what’s on tap at any other bar in the city.

…and my commute is a 20 minute walk every day to the financial district. No Bart, no muni, no toll plazas. Priceless!

But my priorities have changed and I’ll be moving to a house with a yard in the burbs. So, should I sell the condo or rent it out?

Relevant facts include:

*Market value of the condo has gone up $100K in 2 years--but selling costs would wipe out most of the gain

*Rent would cover PITI, but not the monthly HOA (very expensive), parking, maintenance and capex.

*I’d be paying $1K/month out of pocket to hold and rent. I could stomach this, but it would definitely put a dent in my ability to acquire other investment properties.

*The Golden State Warriors basketball arena is being built nearby—-which makes two pro sports stadiums within walking distance.

*There’s a bunch of shiny new condos being built across the channel in Mission Bay—mine will look pretty old and dull in comparison.

I'm assuming any rational person would say Sell Sell Sell! based on the negative cash flow of $12K/yr.  But would anyone argue in favor of holding?  

[Jenifer Levini]

@Arlen Chou is one of the most brilliant and successful investors in the Bay Area. It would do us all good to put more weight on his advice.

[Arlen Chou]

@Jenifer Levini I don't think I deserve your high praise, but thank you very much for the extremely kind words!  What makes BP a great place is that people are willing to share varying ideas and thoughts which allow all of us to grow and become more successful.

[Brett Chaponot]

@Annelyse Finley What did you decide? I'm sitting here in Sacramento steering investors away from negative cashflow investments of -$100 not -$1,000 monthly! But for appreciation like @Diane G. got, can you afford to hold out? 

I need to know the end of this story.