5126-5128 Alumni Pl, San Diego CA, 92115

Active

5126-5128 Alumni Pl

San Diego CA, 92115

$1,699,000

$713.27 per sqft

Active

8 Beds

4 Baths

2,382 sqft

Multi-family

Built in 1955

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 $11,800 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.

250019135

MLSⓇ ID

February 17, 2025

Listed

February 20, 2025

Updated

Interior Features

Total Stories: 1
Bedrooms: 8
Total Bathrooms: 4
Full Bathrooms: 4
Appliances: Dishwasher
Laundry Description: Unit 1 Hookups, Unit 2 Hookups
Fireplace: No
Cooling: No
Cooling Description: None, Other/Remarks
Heating: No

Exterior/Building Features

Roof: Other
Security: N/K, Other/Remarks

Other Property Details

Area Name: Metro Uptown
Days on Market: 3
Garage: No
View: No
County: San Diego
Pool: No

Listed by JLM Real Estate Inc, Daniel Sipher,
Listing Contact: 408-368-5225

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Data last updated 11:00 PM UTC, 2/20/2025