Bankers Hill, sometimes called Park West, is a great neighborhood in Up Town that is west of Balboa Park and just north of downtown San Diego. This area is primarily residential south of Laurel and west of 5th, with many new construction projects taking place especially on 6th Avenue facing Balboa Park. As you head west in Bankers Hill toward the bay, great panoramic views of the bay, downtown San Diego, the airport, Coronado, Harbor Island, and Mount Soledad await, making this area a fantastic location in San Diego. The area was originally developed by famous architects Irving Gill, William Hebbard, Richard Requa, and Frank Mead and was dubbed Bankers Hill because of the affluent community of residents who lived here.
Bankers Hill real estate is a mixture of older, well established as well as new construction. Home prices range here quite a bit depending on the area, view and amenities, although the median home value is $393,481 with the median rental price of $1,083. With the majority of residences renter occupied, investors can find great value and earnings in the burgeoning market. With the combination of established homes and new construction, Bankers Hill is both unique in the aesthetics of the community, as well as the residents that are attracted to this area. Benefits of calling Bankers Hill home are the proximity to main arteries throughout the city, the downtown adjacent location, walking distance to beautiful Balboa Park as well as unique boutiques and locally owned restaurants throughout the area.
Residents in Bankers Hill are considered moderate income and are often upwardly-mobile singles and young couples. According to NeighborhoodScout, 53.9% of residents work as executives, managers or professionals. You may find you have a lot in common with your neighbors if you are working in white collar position. While Bankers Hill is extremely walkable, many residents still have to drive to work. This area can become congested during peak travel times, depending on the direction you are driving.
Because of the high volume of renters flocking to this area, investors can rest assured that they will have a constant influx of renters and renter income. The combination of established and newer buildings allows discerning investors to discover gems within this neighborhood. Flipping a house is possible in this neighborhood if you can get a great deal on an older property. Be patient and trust your Realtor.
Special Note: Because of the flight pattern of the San Diego Airport make sure you hang out at your potential property for about 30 minutes to judge whether you are under the flight path or not, and if you are, whether you can handle the noise. Many newer buildings have double pane windows to help with the sound.
WestShore Real Estate Group breaks the barriers of traditional real estate brokerages in practice, agent empowerment, and customer service. Designed with the future of the industry in mind, WestShore weaves technology and opportunity to create a client focused suite of services aimed at transforming the entire consumer experience. Founded on the principles of maintaining integrity, accessibility and responsibility to clients, WestShore’s cornerstone is creating a valuable connection stemmed from efficient communication between broker and client. WestShore agents are skilled, entrepreneurial, detail oriented, and focused on exceeding client expectations. Our agents work to deliver the best possible experience, helping clients make solid investments-not just buy real estate.