5129 Leo St, San Diego, CA 92115 - MLS#240026167

$1,680,000

$1,749,999 4.0%

Est. payment - /mo

8 Beds

4 Baths

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UPDATED:

Key Details

Sold Price $1,680,000

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 240026167

Bedrooms 8

Full Baths 4

Year Built 1954

Property Description

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.

Location

State CA

County San Diego

Area San Diego (92115)

Building/Complex Name SDSU/College Area

Interior

Cooling Central Forced Air

Exterior

Exterior Feature Other/Remarks

Garage Spaces 2.0

Fence Other/Remarks

Roof Type Other/Remarks

Building

Story 1

Others

Acceptable Financing Cash, Conventional, Exchange, FHA

Space Rent $6,040

Listing Terms Cash, Conventional, Exchange, FHA

Special Listing Condition Call Agent

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Listed by Daniel A Sipher • JLM Real Estate Inc
Bought with Austin Ball • Austin Ball, Broker

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Nicole Hazelton

+1(619) 206-1892

Broker Associate | License ID: 01819363

Broker Associate License ID: 01819363

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