Current 5.3% cap rate with management in place! Pleased to present for sale a student rental just a stone's throw to san diego state university. This fully remodeled 5bed/2bath home and 3bed/1ba adu to two student groups for a combined $8,700/month through july 2023. Current management is very effective in negotiating high rental lease rates and is willing to stay on if desired. They expect to prelease for the 23-24 school year in coming months at $9,000+ per month (5.6% cap rate!). Excellent turn-key return for an investor!
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Listing Price Changes
Price Reduced: 10/25/2022 from $1,425,000 to $1,399,000 Price Reduced: 10/17/2022 from $1,475,000 to $1,425,000
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Selling brokerage eXp Realty Listing provided courtesy of South Coast Commercial, Inc.
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