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Additional details

David Hussain

david@listedbydavid.com +1(858) 215-3512

$ 1,699,000

Est. payment -/mo

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5126-5128 Alumni Pl San Diego, CA 92115

8 Beds

4 Baths

1,182 SqFt

UPDATED:

02/20/2025 07:01 PM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 1,182 sqft

Price per Sqft $1,437

MLS Listing ID 250019135

Bedrooms 8

Full Baths 4

HOA Y/N No

Year Built 1955

Property Sub-Type Res Income 2-4 Units

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 $11,800 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 San Diego (92115)

Building/Complex Name College Area

Interior

Cooling N/K, Other/Remarks

Exterior

Exterior Feature Other/Remarks

Fence N/K, Other/Remarks

Roof Type Other/Remarks

Building

Story 1

Lot Size Range 4000-7499 SF

Level or Stories 1 Story

Others

Acceptable Financing Cal Vet, Cash, Conventional, Exchange, FHA, VA

Space Rent $4,800

Listing Terms Cal Vet, Cash, Conventional, Exchange, FHA, VA

Special Listing Condition N/K, Other/Remarks

Virtual Tour https://www.propertypanorama.com/instaview/snd/250019135

Listed by Daniel A Sipher • JLM Real Estate Inc

+1(858) 215-3512

david@listedbydavid.com

2535 Camino Del Rio S #240, San Diego, CA, 92108, USA

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