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5129-31 Leo St

San Diego, CA 92115
  • $1,780,000 - $1,849,000
  • STATUS: ACTIVE
  • ON SITE: 16 Days
  • ID#: 240022131
UPDATED: 28 min ago
$1,780,000 - $1,849,000
  • 8
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,612
    SQFT
  • $708
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1954
County:

School Ratings & Info

Description

Prime Value-Add opportunity walking distance from SDSU! This property, ideally located for off-campus student housing, ensures strong rental demand and high rental income. The first unit offers 4 bedrooms and 2 bathrooms, generating $5,300 monthly, while the second unit (which is a new construction ADU) boasts 4 bedrooms and 2 bathrooms, bringing in $5,200 monthly. This ADU also has Solar which is fully paid off. With its unbeatable location and consistent rental demand, this property promises a steady and lucrative income stream. Currently, the property generates $10,500 in monthly income, but with updates to the front house, it has the potential to exceed $11,600 per month.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.redtreerealty.com/homes/155382168
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5129-31 Leo St San Diego, CA 92115

  • Price: $1,780,000 - $1,849,000
  • Status: ACTIVE
  • On Site: 16 Days
  • Updated: 28 min ago
  • ID#: 240022131
8
Beds
4
Baths
0
½ Baths
N/A
Acres
2,612
SQFT
$708
$/SQFT
1954
Built
Neighborhood:
Sdsu
County:
San Diego
Area:
San Diego (92115)
Property Description
Prime Value-Add opportunity walking distance from SDSU! This property, ideally located for off-campus student housing, ensures strong rental demand and high rental income. The first unit offers 4 bedrooms and 2 bathrooms, generating $5,300 monthly, while the second unit (which is a new construction ADU) boasts 4 bedrooms and 2 bathrooms, bringing in $5,200 monthly. This ADU also has Solar which is fully paid off. With its unbeatable location and consistent rental demand, this property promises a steady and lucrative income stream. Currently, the property generates $10,500 in monthly income, but with updates to the front house, it has the potential to exceed $11,600 per month.
Exterior Features

Exterior StuccoOther/Remarks Fencing Other/Remarks Parking Garage Spaces Unit1 1 Roof Other/Remarks Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Units With Garages 1 Units With Patios 2

Interior Features

Cooling N/KOther/Remarks Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Stories Other/Remarks Total Baths Unit1 2 Total Baths Unit2 2 Total Baths Unit3 0 Total Baths Unit4 0 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Units With Cooling 2 Units With Dishwashers 2 Units With Dryers 2 Units With Fireplaces 0 Units With Range Oven 2 Units With Refrigerators 2 Units With Washers 2

Property Features

Actual Cap Rate 4.5 Age Restrictions N/K Annual Expense Actual 36785 Association ID San Diego Association of REALTORS (SDAR) Buildings 2 Cfd Mello Roos Fee 0.0 Community SAN DIEGO Complex Park SDSU Cross Streets Leo & Saranac St Gross Rent Multiplier Actual 14.7 Gross Rent Multiplier Project 13.6 Gross Scheduled Income Actual 126000 Gross Scheduled Income Project 135600 Mandatory Remarks None Known Mandatory Remarks For Value Range Pricing Seller will Entertain Offers between $1780000 - $1849000 Market Area Metro Uptown Monthly Total Fees 0 Net Operating Income Projected 92035 Other Fees 0.0 Other Income Actual 0 Projected Cap Rate 5.0 Sales Restrictions Call Agent Security Other/Remarks Short Sale No Tenant Pays Other/Remarks Terms CashConventionalExchangeFHAVA Unit1 Deposit 0 Unit1 Occupied Tenant Unit1 Projected Rent 5800.0 Unit1 Rent Actual 5300.0 Unit2 Deposit 0 Unit2 Occupied Tenant Unit2 Projected Rent 5800.0 Unit2 Rent Actual 5200.0

San Diego MLS logo Listing provided courtesy of Daniel Sipher of JLM Real Estate Inc: 408-368-5225. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Red Tree Realty
4138 Napier St.
San Diego CA, 92110