5126 Alumni Pl - Apartments FOR SALE


San Diego, CA 92115- College East
$1,624,900 USD
858-336-9688
5126 Alumni Pl, San Diego, CA for Sale
$1,624,900 USD
Apartments - FOR SALE
1/33
null | 6.59% Cap Rate

5126 Alumni Pl
San Diego, CA 92115
College East


HIGHLIGHTS

  • Projected to receive $14,100/month in gross income
  • Proforma 7% cap rate
  • Both units are brand new construction - 4bd/2ba each
  • Seller-guaranteed lease of $12,000/month for 12 months
  • Garage can be converted into additional bedrooms or a legal junior/bonus ADU

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,624,900 USD

PRICE/SF

$682 USD /SF

# OF UNITS

2

PRICE/UNIT

$812,450

CAP RATE

6.59%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,585 SF

ZONING

-

APN/PARCEL ID

467-123-28

ASK ABOUT THIS PROPERTY

Jason LeeJLM Real Estate Inc.More Info
858-336-9688

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Jason LeeJLM Real Estate Inc.More Info
858-336-9688

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.