5261 Tipton, San Diego, CA 92115
Single-family home
Sold May 2023
Listing Agent: Robert Brown (DRE #01796328) · Listing Office: Fantastik Realty · Contact: 858-397-3108 · Bought with: Collin Dudley · eXp Realty of California, Inc. · MLS #230005073SD · Source: CRMLS
About this single-family home
Outstanding Investment Opportunity! Presenting a fully turn-key, "minidorm" style student rental situated in a prime location, just steps away from SDSU. Nestled on a sought-after street renowned for student rentals, this 6-bedroom property is currently leased for $6,000 per month to a group of SDSU students. A new lease with a fresh group of SDSU students is set to commence on July 5, 2023, at an increased rate of $6,900 per month. The current owner has meticulously remodeled and expanded the house, obtaining necessary permits to add bedrooms, bathrooms, and convert the garage. All work was carried out under the guidance of a leading student housing expert management company in this highly desirable area. Explore the potential to build an ADU on the property, as neighboring homes have successfully rented their ADUs for $4,500+ per month. Due to the consistently high demand for student rentals in this prime location, the property has experienced annual rent increases nearly every single year per the owner. With its proximity to SDSU, this investment offers low vacancy, ensuring a stable and reliable income stream. Expertly managed by a top-notch student rental management company, this property offers an unbeatable location close to campus, shopping centers, dining options, and convenient freeway access. The spacious backyard features a jacuzzi, providing an excellent space for relaxation and entertainment. Don't miss your chance to capitalize on this exceptional income-generating opportunity!
Listing description from the May 2023 sale, as reported to CRMLS.
Sale history