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5129 Leo St San Diego, CA 92115
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Key Details
Sold Price $1,680,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 240026167
Sold Date 12/31/24
Bedrooms 8
Full Baths 4
HOA Y/N No
Year Built 1954
Property Sub-Type Res Income 2-4 Units
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 San Diego (92115)
Building/Complex Name SDSU/College Area
Interior
Cooling Central Forced Air
Exterior
Exterior Feature Other/Remarks
Garage Spaces 2.0
Fence Other/Remarks
Roof Type Other/Remarks
Building
Story 1
Lot Size Range 7500-10889 SF
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional, Exchange, FHA
Space Rent $6,040
Listing Terms Cash, Conventional, Exchange, FHA
Financing Other/Remarks
Special Listing Condition Call Agent
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Bought with Austin Ball • Austin Ball, Broker