39
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$1,575,000
Est. payment /mo
8 Beds
4 Baths
5,400 Sqft Lot
Active
5126-5128 Alumni Pl San Diego, CA 92115
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250026168
Bedrooms 8
Full Baths 4
HOA Y/N No
Year Built 1955
Lot Size 5,400 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Prime 2-unit property near SDSU with 2,382 SF, featuring a gut-remodeled front house and a brand-new ground-up ADU, both 4-bed, 2-bath detached units with modern finishes. Missed student rental season (Nov start) due to construction, so currently yielding below-market rents with strong upside. Seller guarantees $11,500/mo for 1 yr, ensuring stable income and DSCR loan options. Property managers can get $11,500 next school year for new owner (see attached rent comps and rent projection). Convert garage to bedrooms or junior ADU for ~$12,900/mo+. Ideal for investors or owner-occupancy in a high-demand location!, 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. New Housing Laws AB2097, which remove parking requirements and streamline development, makes the garage conversion an easy option. This conversion could significantly boost rental income, making this an even more lucrative investment opportunity. Seize a rare, turnkey SDSU student rental gem!
Location
State CA
County San Diego
Area San Diego (92115)
Building/Complex Name College Area
Exterior
Exterior Feature Stucco
Fence Partial
Roof Type Composition
Building
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional, FHA, VA
Space Rent $4,800
Listing Terms Cash, Conventional, FHA, VA
Listed by Robert Brown • Fantastik Realty