Description
Outstanding Investment Opportunity! Presenting a fully turn-key, "minidorm" style student rental situated in a prime location, just steps away from SDSU. Nestled on a sought-after street renowned for student rentals, this 6-bedroom property is currently leased for $5,350 per month to a group of SDSU students. A new lease with a fresh group of SDSU students is set to commence in July 2023, at an increased rate of $5,700 per month. The 6 bedroom house is under-rented (market rents are $1000- $1100 + per bedroom) through July 24 to students for $5700 / month. The current owner has meticulously maintained and managed the house for many years. Explore the potential to build an ADU on the property, as neighboring homes have successfully rented their ADUs for $4,500+ per month. Due to the consistently high demand for student rentals in this prime location, the property has experienced annual rent increases nearly every single year per the owner. With its proximity to SDSU, this investment offers low vacancy, ensuring a stable and reliable income stream. Expertly managed by a top-notch student rental management company, this property offers an unbeatable location close to campus, shopping centers, dining options, and convenient freeway access. The spacious backyard provides an excellent space for relaxation and entertainment. The driveway offers generous space for parking. Don't miss exceptional income-generating opportunity! Student rentals optimized for CA rent control: they usually have new student groups every year. Call for management, ADU architect or contractor referrals.
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4BEDS
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0.12ACRES
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2BATHS
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01/2 BATHS
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1,763SQFT
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$623$/SQFT
School Ratings & Info
Description
Outstanding Investment Opportunity! Presenting a fully turn-key, "minidorm" style student rental situated in a prime location, just steps away from SDSU. Nestled on a sought-after street renowned for student rentals, this 6-bedroom property is currently leased for $5,350 per month to a group of SDSU students. A new lease with a fresh group of SDSU students is set to commence in July 2023, at an increased rate of $5,700 per month. The 6 bedroom house is under-rented (market rents are $1000- $1100 + per bedroom) through July 24 to students for $5700 / month. The current owner has meticulously maintained and managed the house for many years. Explore the potential to build an ADU on the property, as neighboring homes have successfully rented their ADUs for $4,500+ per month. Due to the consistently high demand for student rentals in this prime location, the property has experienced annual rent increases nearly every single year per the owner. With its proximity to SDSU, this investment offers low vacancy, ensuring a stable and reliable income stream. Expertly managed by a top-notch student rental management company, this property offers an unbeatable location close to campus, shopping centers, dining options, and convenient freeway access. The spacious backyard provides an excellent space for relaxation and entertainment. The driveway offers generous space for parking. Don't miss exceptional income-generating opportunity! Student rentals optimized for CA rent control: they usually have new student groups every year. Call for management, ADU architect or contractor referrals.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-05-28T15:28:00.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Ramos Group | Realty One Group Empire. Licensed in the State of California, USA.