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.
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