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Kevin Silverstein

[email protected] +1(619) 203-7041

$1,499,000

Est. payment - /mo

8 Beds

4 Baths

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision College Park (Cp)

MLS Listing ID 260013616

Bedrooms 8

Full Baths 4

Year Built 1978

Property Sub-Type Res Income 2-4 Units

Property Description

5067 Alumni Place presents a rare opportunity to acquire a fully gut-remodeled 2-unit property with architectural plans to be submitted to city add two additional units with STREET ACCESS from both sides, offering both high rental income (BY SDSU) and clear development upside. The existing improvements consist of two spacious units, each featuring 4 bedrooms and 2 bathrooms at approximately 1,500 square feet per unit (Total 8B/4B). Both units have been completely renovated, providing modern layouts, updated systems, and strong rental appeal. Expected rental income for the existing two units is 6K each unit (12K total). Bank just appraised it for 1.7M! Plans call for the construction of a new two-story building featuring two additional units with a patio deck: a 4-bedroom, 2-bath unit of approximately 1,200 square feet and a 2-bedroom, 1-bath unit of approximately 600 square feet, with one unit on each level (Total 6B/3B). Strategically located in the College Area, directly adjacent to San Diego State University, the property sits in one of San Diego's strongest and most consistent rental corridors. Proximity to campus, transit, and neighborhood amenities makes this an ideal asset for investors seeking stable cash flow today with the ability to significantly increase density and long-term value. This property offers rare both front and back street access to both levels and the proposed new 2 unit. Parking is abundant on Reservoir Dr and does not require a permit.

Location

State CA

County San Diego

Area Metro Uptown

Zoning RS-1-7

Interior

Heating Forced Air Unit

Cooling Central Forced Air

Fireplace No

Exterior

Fence Gate

Utilities Available Sewer Connected

View Y/N No

Water Access Desc Meter on Property

Roof Type Composition

Building

Story 2

Water Meter on Property

Level or Stories 2

Others

Senior Community No

Tax ID 467-250-14-00

Acceptable Financing Cash, Conventional, Exchange, FHA, VA

Listing Terms Cash, Conventional, Exchange, FHA, VA

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Listed by Rory M Cornelius, DRE#02161116 ROA California Inc

Nearby School & Business

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Kevin Silverstein

+1(619) 203-7041

Realtor | CA BRE #02098925

Realtor CA BRE #02098925

San Diego Communities

5067 Alumni Pl San Diego, CA 92115

Kevin Silverstein

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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