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$ 1,680,000
$ 1,749,999 4.0%
Est. payment /mo
Sold on 12/31/2024
5129 Leo St San Diego, CA 92115
UPDATED:
Key Details
Sold Price $1,680,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 240026167SD
Sold Date 12/31/24
HOA Y/N No
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 92115 - San Diego
Building/Complex Name SDSU/College Area
Interior
Cooling Central Air
Fireplace No
Exterior
View Y/N No
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4671231000
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Other
Listed by Daniel Sipher • JLM Real Estate Inc
Bought with Austin Ball • Austin Ball, Broker
Bought with Austin Ball • Austin Ball, Broker