5129 Leo St, Property Listing: MLS® #240026167

Prime opportunity walking distance from SDSU and generates $11,240 of gross rents! This is a value-add property with the opportunity to increase rents further to $12,000+ per month. Ideally located for off-campus student housing, ensures strong rental demand and high rental income. The front house offers 4 bedrooms and 2 bathrooms, now generating $6,040 monthly, while the second unit (new construction ADU) also boasts 4 bedrooms and 2 bathrooms, bringing in $5,200 monthly. This unit includes paid off Solar. Currently a 5.5% Cap Rate, this property has the ability to maximize rents to a pro forma 5.8% Cap Rate. With its unbeatable location and consistent rental demand, this property promises a steady and lucrative return.

5129 Leo St, Property Listing: MLS® #240026167 Close
Page Summary
  • 619-987-4851
NEW
  • MLS® #: 240026167
  • 5129 Leo St
  • , CA 92115
  • $1,749,999
  • 4 Bath
  • Office: Jlm Real Estate Inc

Prime opportunity walking distance from SDSU and generates $11,240 of gross rents! This is a value-add property with the opportunity to increase rents further to $12,000+ per month. Ideally located for off-campus student housing, ensures strong rental demand and high rental income. The front house offers 4 bedrooms and 2 bathrooms, now generating $6,040 monthly, while the second unit (new construction ADU) also boasts 4 bedrooms and 2 bathrooms, bringing in $5,200 monthly. This unit includes paid off Solar. Currently a 5.5% Cap Rate, this property has the ability to maximize rents to a pro forma 5.8% Cap Rate. With its unbeatable location and consistent rental demand, this property promises a steady and lucrative return.

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Essential Information

  • MLS® #240026167
  • Listing Price$1,749,999
  • Original Listing Price$1,749,999
  • Date ListedNovember 6th, 2024
  • Bathrooms4.00
  • Acres0.00
  • Year Built1954
  • TypeResidential Income
  • StatusACTIVE

Dues

  • HOA Dues$0

Community Information

  • Address5129 Leo St
  • AreaSAN DIEGO (92115)
  • ComplexSDSU/College Area
  • SubdivisionSDSU/College Area
  • CountySan Diego
  • StateCA
  • Zip Code92115

Interior

  • CoolingCentral Forced Air
  • # of Stories1

Exterior

  • ExteriorOther/Remarks
  • RoofOther/Remarks
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Listing information last updated on November 27th, 2024 at 7:23am PST.