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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 $12,000 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.
Address |
5126 Alumni Pl
San Diego, CA 92115 |
Listing Status | ACTIVE |
Asking Price | $1,624,900 |
Original Listing | $1,699,000 @ 2025-02-17 |
Terms | Other/Remarks |
Age Restriction | N/K |
Property Type | Other/Remarks |
Property Restrictions | Other/Remarks |
Sales Restrictions | Call Agent,N/K |
Mello-Roos Fee | $0 |
HOA Fee | $0 |
Square Footage | 2382 sf |
Bedrooms | 8 + 0 optional |
Full Bathrooms | 4 |
Family Room | 12x12 |
Living Room | 12x12 |
Dining Room | 14x12 |
Kichen | 10x12 |
Master Bedroom | 12x10 |
2nd Bedroom | 10x10 |
3rd Bedroom | 10x8 |
4th Bedroom | 8x8 |
5th Bedroom | 8x10 |
Directions | Not Provided |
Cross Street | Alumni Pl & Saranac St |
Market Area | Metro Uptown |
Neighborhood | College Area |
Complex | College Area |
School District | Not Listed |
County | San Diego |
Assessor Parcel# | 467-123-28-00 |
Geographic Areas |
Airport Compatibility Zone: Montgomery Field Community College District: San Diego CC |
Highway Locator |
East of I-15 East of I-5 South of I-8 East of I-805 East of SR-163 South of SR-52 |
Ocean Distance | 16.9 miles |
Year Built | 1955 |
Laundry Location | Laundry Room |
Elevator | Not Listed |
Cooling | Central Forced Air |
Heating | Electric Forced Air Unit |
Sewer/Septic | Other/Remarks |
Fireplaces | Not Listed |
Equipment | Dishwasher, Disposal, Dryer, Fire Sprinklers, Garage Door Opener, Microwave, Refrigerator, Built In Range, Electric Oven, Electric Range, Electric Stove, Energy Star Appliances, Freezer, Gas & Electric Range, Gas Oven, Gas Stove, Built-In, Counter Top, Electric Cooking, Gas Cooking |
Platform | SDMLS |
AOR | San Diego Association of REALTORS (SDAR) |
MLS Number | 250019141 |
Courtesy of | JLM Real Estate Inc |
https://www.californiatophomes.com/250019141
Style | Detached 2 Story |
Material | Stucco |
Lot Size | 4,000-7,499 SF |
Fencing | Full |
Topography | Level |
Roof | Other/Remarks |
Swimming Pool | N/K |
Parking |
Assigned
Total Spaces: 2
Garage Spaces: 2
Non-Garage Spaces:
0 -
|
View | Not Listed |