Description
Pleased to present a well located student rental property with ADU PLANS APPROVED by end of May! Immediate value add potential just a short walk to the center of the San Diego State University campus. 5137 Rincon is a large corner lot comprised of an existing 7bed/4bath main house and plans to add an attached 1200 SF ADU in the back yard. The house is advertised for $7,000 per month and has major further potential for rent growth. Estimated 7.4% CAP rate after costs with ADU buildout and 3rd party management! Ability to further optimize the land use by enclosing the front yard space. Student rentals circumvent CA Rent control as they typically have new student groups each year. Shown with accepted offer only virtual walk through link available. contact agent for details, building plans, and management/contractor referrals.
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7BEDS
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0.17ACRES
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4BATHS
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01/2 BATHS
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2,039SQFT
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$613$/SQFT
School Ratings & Info
Description
Pleased to present a well located student rental property with ADU PLANS APPROVED by end of May! Immediate value add potential just a short walk to the center of the San Diego State University campus. 5137 Rincon is a large corner lot comprised of an existing 7bed/4bath main house and plans to add an attached 1200 SF ADU in the back yard. The house is advertised for $7,000 per month and has major further potential for rent growth. Estimated 7.4% CAP rate after costs with ADU buildout and 3rd party management! Ability to further optimize the land use by enclosing the front yard space. Student rentals circumvent CA Rent control as they typically have new student groups each year. Shown with accepted offer only virtual walk through link available. contact agent for details, building plans, and management/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.