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$ 1,699,000
Est. payment /mo
Active
5126 5128 Alumni Pl San Diego, CA 92115
UPDATED:
02/28/2025 12:30 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250019135SD
HOA Y/N No
Year Built 1955
Property Description
This exceptional 2-unit property with a total of 2382 rentable SF near SDSU offers two spacious 4-bedroom, 2-bathroom units, perfectly positioned for strong rental demand. Both units are brand new construction with modern finishes. The front unit's rents are currently below market due to the prior construction of the ADU, presenting significant upside potential. With a seller-guaranteed lease of $12,500 per month for 12 months, this property provides immediate and stable income for the new buyer while securing favorable financing options, including a DSCR loan. Additionally, the newly finished ADU offers flexibility for owner-occupancy or additional rental income. Further enhancing its potential, the garage can be converted into additional bedrooms or a legal junior/bonus ADU, capitalizing on New Housing Laws AB2097, which remove parking requirements and streamline development. This conversion could significantly boost rental income, making this an even more lucrative investment opportunity. With garage conversion pro forma rents projected at approximately $14,100 per month at 7% Cap, this property is a rare opportunity to secure a high-performing asset in a prime SDSU location.
Location
State CA
County San Diego
Area 92115 - San Diego
Building/Complex Name College Area
Interior
Cooling None, See Remarks
Fireplace No
Exterior
Fence None
View Y/N No
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4671232800
Acceptable Financing Cash, Conventional, Cal Vet Loan, FHA, VA Loan
Listing Terms Cash, Conventional, Cal Vet Loan, FHA, VA Loan
Listed by Daniel Sipher • JLM Real Estate Inc