Listing provided courtesy of Daniel Sipher of JLM Real Estate Inc. Last updated 2025-02-18 09:11:24.000000. Listing information © 2025 Sandicor.
Asking Price: $1,699,000
5126 Alumni Pl, San Diego CA 92115
Community: 92115 - San Diego
This property was built in 1955 and is priced at $1,699,000. Please see the additional details below.
This exceptional 2-unit property with a total of 2382 rentable SF near SDSU offers two spacious 4-bedroom, 2-bathroom units, perfectly positioned for strong rental demand. Both units are brand new construction with modern finishes. The front unit’s rents are currently below market due to the prior construction of the ADU, presenting significant upside potential. With a seller-guaranteed lease of $11,800 per month for 12 months, 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. Further enhancing its potential, the garage can be converted into additional bedrooms or a legal junior/bonus ADU, capitalizing on New Housing Laws AB2097, which remove parking requirements and streamline development. This conversion could significantly boost rental income, making this an even more lucrative investment opportunity. With garage conversion pro forma rents projected at approximately $14,100 per month at 7% Cap, this property is a rare opportunity to secure a high-performing asset in a prime SDSU location.
