5129 Leo St Active Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92115
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,612 sqft
Price per Sqft $669
MLS Listing ID 240026171SD
Bedrooms 8
Full Baths 4
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
Interior
Heating None,See Remarks
Cooling Central Air
Laundry See Remarks
Exterior
Parking Features Driveway
Garage Spaces 2.0
Garage Description 2.0
Pool None
Utilities Available See Remarks
View Y/N No
Roof Type See Remarks
Building
Story 1
Water See Remarks
New Construction No
Others
Acceptable Financing Cash,Conventional,1031 Exchange,FHA
Listing Terms Cash,Conventional,1031 Exchange,FHA