5129 Leo St, San Diego, CA 92115
Single-family home
Sold December 2024
Listing Agent: Daniel Sipher (DRE #02043589) · Listing Office: JLM Real Estate Inc · Contact: 949-207-8321 · Bought with: Austin Ball · Austin Ball, Broker · MLS #240026171SD · Source: CRMLS
About this single-family home
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.
Listing description from the December 2024 sale, as reported to CRMLS.
Sale history