5126-5128 Alumni Pl Active Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92115
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
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
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