Asking experts: is Irvine a good place for an investment property?

[Snowleopard]

I am considering purchasing a property in Irvine as a long term investment. I've rented here for a long time and my rent has gone up year after year. I would prefer to purchase a new property, possibly a detached condo. I want to live in the property and rent out a room possibly. Ideally I would get a house with a private entry/downstairs bedroom that includes a kitchenette. I would prefer to keep the price below $ 900,000. Please let me know your thoughts and if you have any suggestions for properties I should look at. I would prefer a low mello roos of course but I know that isn't always possible. Thanks in advance.

 

[id_rather_be_racing]

I am considering purchasing a property in Irvine as a long term investment. I've rented here for a long time and my rent has gone up year after year. I would prefer to purchase a new property, possibly a detached condo. I want to live in the property and rent out a room possibly. Ideally I would get a house with a private entry/downstairs bedroom that includes a kitchenette. I would prefer to keep the price below $ 900,000. Please let me know your thoughts and if you have any suggestions for properties I should look at. I would prefer a low mello roos of course but I know that isn't always possible. Thanks in advance.

Not going to comment on whether or not Irvine is a good location for an investment property, but I have a recommendation for the type of property you're looking for.

Check out Cypress Village East - Trellis Court - Residence 2.  It has everything you're looking for and in your budget.

-Detached Condo w/ low Mello Roos ($1,700 annually, no increases)
-Private entry for downstairs guestsuite from both garage (option) and rear courtyard. Kitchenette also an option in the guest suite
-Price with options will likely be below $900K

They have a model home available with the Kitchenette but no garage door.  Check out the interactive floor plan here:https://www.villagesofirvine.com/villages-neighborhoods/cypress-village/trellis-court/

 

[SoclosetoIrvine]

I am considering purchasing a property in Irvine as a long term investment. I've rented here for a long time and my rent has gone up year after year. I would prefer to purchase a new property, possibly a detached condo. I want to live in the property and rent out a room possibly. Ideally I would get a house with a private entry/downstairs bedroom that includes a kitchenette. I would prefer to keep the price below $ 900,000. Please let me know your thoughts and if you have any suggestions for properties I should look at. I would prefer a low mello roos of course but I know that isn't always possible. Thanks in advance.

For $900k budget, Why not Petaluma in eastwood?  It ticks all the boxes.  Low MELO since Eastwood (around 1.4% total) it's detached....with lower HOA since it is detached.  And the value (if Stonegate is any indication), should stay high and might even appreciate a tiny bit.  Plus you get northwood high

Also look around for resale, you can get an older home for resale in northwood area for almost that price, some without melo roos. 

 

[usctrojancpa]

Take a look at West Irvine.  You can buy a detached home in the $800s with either very low or no HOA and low Mello Roos (~$1k/yr).  You can get $1,000/mo+ for renting out a room with a private bathroom in Irvine.

 

[dethman]

so this would be a primary residence then?

if that is the case there are plenty of different opinions on whether a primary residence is actually an investment or not, whether in irvine or any other city.

 

[eyephone]

I am considering purchasing a property in Irvine as a long term investment. I've rented here for a long time and my rent has gone up year after year. I would prefer to purchase a new property, possibly a detached condo. I want to live in the property and rent out a room possibly. Ideally I would get a house with a private entry/downstairs bedroom that includes a kitchenette. I would prefer to keep the price below $ 900,000. Please let me know your thoughts and if you have any suggestions for properties I should look at. I would prefer a low mello roos of course but I know that isn't always possible. Thanks in advance.

Welcome to TI snowman. I would recommend for you to contact Panda. He will show you analysis and data for cash flow property with appreciation in the property. (High gross income area Johns Creek with high rated schools)