5129 Leo St
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5129 Leo St
2 Unit Apartment Building Offered at $1,749,900 at a 5.40% Cap Rate in San Diego, CA 92115
Investment Highlights
- Prime location near SDSU - perfect for off-campus student housing
- 2nd unit is a New Construction ADU with fully paid off Solar
- Generates $11,240 of gross rents! - Opportunity to raise rents further to $12,000+ a month
- Current 5.5% Cap Rate - ability to maximize rents to a pro forma 5.8% Cap Rate
Executive Summary
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.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts In Escrow
| Price | $1,749,900 | Property Type | Multifamily |
| Price Per Unit | $874,950 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 2,612 SF |
| Cap Rate | 5.40% | No. Stories | 2 |
| Gross Rent Multiplier | 14.7 | Year Built/Renovated | 1954/2024 |
| No. Units | 2 | Parking Ratio | 1.53/1,000 SF |
| Price | $1,749,900 |
| Price Per Unit | $874,950 |
| Sale Type | Investment |
| Cap Rate | 5.40% |
| Gross Rent Multiplier | 14.7 |
| No. Units | 2 |
| Property Type | Multifamily |
| Lot Size | 0.14 AC |
| Building Size | 2,612 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2024 |
| Parking Ratio | 1.53/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 2 | $5,620 | 1,200 - 1,412 |
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