5129 Leo St

San Diego, CA 92115

$1,749,999

List Price

8

bed Beds

4

shower Baths

2,612 sqft

straighten / sqft

1954

calendar_month Built

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.

Listing Information

List Price $1,749,999
Status Active
MLS 240026171SD
Type Residential
Subtype Single Family Residence
Year Built 1954
Lot Size N/A
Structure Size 2,612
Courtesy Of JLM Real Estate Inc
Listing Agent Daniel Sipher DRE#02043589
Co-Listing Agent Jason Lee DRE#02068011

Interior Features

Laundry Information
Location(s) See Remarks
Total Bedroom
Bedrooms 8
Total Bathroom
Bathrooms 4
Additional Information
Additional Features See Remarks
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Daniel Sipher, Jason Lee, JLM Real Estate Inc 408-368-5225. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 6th, 2024 at 9:22 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.