Listing by: Daniel Sipher, JLM Real Estate Inc
8 Beds
4 Baths
2,612 SqFt
Active
Prime opportunity walking distance from SDSU and generates $11,240 of gross rents! This is a value-add property with the opportunity to increase rents further to $12,000+ per month. Ideally located for off-campus student housing, ensures strong rental demand and high rental income. The front house offers 4 bedrooms and 2 bathrooms, now generating $6,040 monthly, while the second unit (new construction ADU) also boasts 4 bedrooms and 2 bathrooms, bringing in $5,200 monthly. This unit includes paid off Solar. Currently a 5.5% Cap Rate, this property has the ability to maximize rents to a pro forma 5.8% Cap Rate. With its unbeatable location and consistent rental demand, this property promises a steady and lucrative return.
Property Details | ||
---|---|---|
Price | $1,749,999 | |
Bedrooms | 8 | |
Full Baths | 4 | |
Half Baths | 0 | |
Total Baths | 4 | |
Property Type | Residential | |
Sub type | SingleFamilyResidence | |
MLS Sub type | Single Family Residence | |
Stories | 1 | |
Year Built | 1954 | |
Roof | See Remarks | |
Heating | See Remarks,None | |
Laundry Features | See Remarks | |
Pool features | None | |
Parking Description | Driveway | |
Parking Spaces | 4 | |
Garage spaces | 2 | |
Geographic Data | ||
Directions | Cross Street: Leo St & Saranac St. | |
County | San Diego | |
Latitude | 32.77143828 | |
Longitude | -117.05695192 | |
Market Area | 92115 - San Diego | |
Address Information | ||
Address | 5129 Leo St, San Diego, CA 92115 | |
Postal Code | 92115 | |
City | San Diego | |
State | CA | |
Country | United States | |
Listing Information | ||
Listing Office | JLM Real Estate Inc | |
Listing Agent | Daniel Sipher | |
MLS Information | ||
Days on market | 0 | |
MLS Status | Active | |
Listing Date | Nov 6, 2024 | |
Listing Last Modified | Nov 6, 2024 | |
Tax ID | 4671231000 | |
MLS Area | 92115 - San Diego | |
MLS # | 240026171SD |
This information is believed to be accurate, but without any warranty.