5129 Leo St
San Diego, CA 92115
2612 sqft | 8 beds | 4 baths | #240026171SD
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.
Property Details
- Property SubtypeSingleFamilyResidence
- MLS #240026171SD
- MLS #240026171SD
- InteriorSeeRemarks
- Utility SourceSeeRemarks
- Utility FeaturesSeeRemarks
- Original List Price$1,749,999
- CountySan Diego
- Property TypePurchase
- Cost1749999
- Square Feet2612
- Year Built1954
- Bedrooms8
- Bathrooms4
- Full Baths4
- Stories1
- Parking Spaces2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Daniel Sipher (#SAND-705092)
Listing Office: JLM Real Estate Inc (#SAND-991580)
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