5126 Alumni Pl
San Diego, CA 92115
2382 sqft | 8 beds | 4 baths | #250019141SD
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.
Property Details
- Property SubtypeSingleFamilyResidence
- MLS #250019141SD
- MLS #250019141SD
- InteriorSeeRemarks
- Utility SourceSeeRemarks
- Utility FeaturesSeeRemarks
- Original List Price$1,699,000
- CountySan Diego
- Property TypePurchase
- Cost1699000
- Square Feet2382
- Year Built1955
- Bedrooms8
- Bathrooms4
- Full Baths4
- Stories2
- Parking Spaces2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Daniel Sipher (#SAND-705092)
Listing Office: JLM Real Estate Inc (#SAND-991580)
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