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$1,575,000
Est. payment /mo
5,401 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250026168SD
HOA Y/N No
Year Built 1955
Lot Size 5,401 Sqft
Property Description
Prime 2-unit property near SDSU with 2,382 SF, featuring a gut-remodeled front house and a brand-new ground-up ADU, both 4-bed, 2-bath detached units with modern finishes. Missed student rental season (Nov start) due to construction, so currently yielding below-market rents with strong upside. Seller guarantees $11,500/mo for 1 yr, ensuring stable income and DSCR loan options. Property managers can get $11,500 next school year for new owner (see attached rent comps and rent projection). Convert garage to bedrooms or junior ADU for ~$12,900/mo+. Ideal for investors or owner-occupancy in a high-demand location!, 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. New Housing Laws AB2097, which remove parking requirements and streamline development, makes the garage conversion an easy option. This conversion could significantly boost rental income, making this an even more lucrative investment opportunity. Seize a rare, turnkey SDSU student rental gem!
Location
State CA
County San Diego
Area 92115 - San Diego
Building/Complex Name College Area
Interior
Cooling None
Fireplace No
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4671232800
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
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Listed by Robert Brown • Fantastik Realty