Sell or keep San Francisco condo that crashed?

Should I sell my SF condo rental? Should I hold for a year or two? Or long-term?

Location: Downtown SF (SOMA) Studio
Purchased in Feb 2020 @ $865k
Current value = $710k
Interest rate = 3%

PITI + HOA + Utilities = $4,600
Rent = $3,000 / month
Negative Cash Flow = -$1,600

Formerly lived there, have since moved away and am renting it out while I decide.

Family wants me to hold on, but having trouble stomaching either selling at a ~20% loss or losing ~$20k a year.

EDIT: Unfortunately, moving back in is not an option due to life circumstances that have changed since COVID.