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Key Details
Sold Price $1,680,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 2,612 sqft
Price per Sqft $643
MLS Listing ID 240026171SD
Sold Date 12/31/24
Bedrooms 8
Full Baths 4
HOA Y/N No
Year Built 1954
Property Description
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.
Location
State CA
County San Diego
Area 92115 - San Diego
Interior
Interior Features See Remarks
Heating None, See Remarks
Cooling Central Air
Fireplace No
Appliance Microwave
Laundry See Remarks
Exterior
Parking Features Driveway
Garage Spaces 2.0
Garage Description 2.0
Pool None
Utilities Available See Remarks
View Y/N No
Roof Type See Remarks
Attached Garage Yes
Total Parking Spaces 4
Private Pool No
Building
Story 1
Entry Level One
Water See Remarks
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4671231000
Acceptable Financing Cash, Conventional, 1031 Exchange, FHA
Listing Terms Cash, Conventional, 1031 Exchange, FHA
Financing Other
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Bought with Austin Ball • Austin Ball, Broker