For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $1,680,000
Property Type Single Family Home
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 2,612 sqft
Price per Sqft $643
MLS Listing ID 240026171
Sold Date 12/31/24
Style Detached
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 San Diego (92115)
Rooms
Family Room 10x12
Master Bedroom 8x10
Bedroom 2 6x8
Bedroom 3 6x8
Bedroom 4 6x8
Bedroom 5 6x8
Living Room 10x12
Dining Room 10x12
Kitchen 10x12
Interior
Heating Other/Remarks
Cooling Central Forced Air
Equipment Microwave, N/K
Appliance Microwave, N/K
Laundry Other/Remarks
Exterior
Exterior Feature Other/Remarks
Parking Features Attached
Garage Spaces 2.0
Fence Other/Remarks
Roof Type Other/Remarks
Total Parking Spaces 4
Building
Story 1
Lot Size Range 4000-7499 SF
Sewer Other/Remarks
Water Other/Remarks
Level or Stories 1 Story
Others
Ownership Other/Remarks
Acceptable Financing Cash, Conventional, Exchange, FHA
Listing Terms Cash, Conventional, Exchange, FHA
Special Listing Condition Call Agent
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Austin Ball • Austin Ball, Broker
GET MORE INFORMATION
Josh Nottingham
Agent | License ID: TN - 375410 CA - 01295227
Agent License ID: TN - 375410 CA - 01295227