5126 Alumni Place San Diego, CA 92115

$1,624,900
8
Beds
4
Baths
2,382
SQFT
682
$/SQFT
$1,624,900
8
Beds
4
Baths
2,382   sf
$682 / sf
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price reduced
1/30
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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.

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.

Listed by:
JLM Real Estate Inc

Source:
CRMLS

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Property details

Community Features

  • No HOA
  • Not Age Restricted

Exterior features

  • Has garage
  • No Pool
  • Parking

Interior Features

  • Central Air Conditioning
  • Gas Oven
  • Heat Electric
  • Air Conditioning

Style

  • Multi Level
  • Two Story

Property History

DateDays AgoEventNew Price
Mar 13, 20252 days agoPrice decreased74,100 (4%)$1,624,900
Feb 18, 202525 days agoNew on market$1,699,000
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