5129 Leo St San Diego, CA 92115

8 Beds
4 Baths
2,612 Sqft
Status: Active
Property Type: Detached
Year Built: 1954
Neighborhood: Sdsu/college Area
Days on Website: 16

Courtesy of JLM Real Estate Inc

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.

Open House

Property Details and Features

  • 4 full bathrooms
  • 4 total bathrooms
  • 8 bedrooms
  • 8 total bedrooms
  • 6x8 square feet
  • 6x8 square feet
  • 6x8 square feet
  • 6x8 square feet
  • 2,612 estimated square feet
  • Source: Assessor Record
  • Built in 1954
  • 1 story
  • Central Forced Air
  • 10x12 square feet
  • Other/Remarks
  • Other/Remarks
  • 10x12 square feet
  • Other/Remarks
  • Other/Remarks
  • Other/Remarks
  • Kitchen is 10x12 feet
  • Other/Remarks
  • Other/Remarks
  • Source: SDMLS
  • For Sale
  • Listed on 2024-11-06
  • County: San Diego
  • 4,000-7,499 SF
  • 10x12 square feet
  • 8x10 square feet
  • 2 garage parking spaces
  • Attached
  • 2 non-garage parking spaces
  • 4 total parking spaces
  • Non-Garage Parking: Driveway
  • Other/Remarks
  • Other/Remarks
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