5527 Dorothy
SOLD
San Diego
$2,145,000
Property Description
Turn-Key 7.1% CAP rate (Aug 2024 - Aug 2025) passive investment property by SDSU. Pleased to present for sale a well-located student rental by San Diego State. 5527 Dorothy is a stone's throw from the SDSU Campus in the most desired neighborhood by students. This fully remodeled 7/3 House plus 4/2 ADU totals 11beds/5baths, has stunning valley views off the back deck, and is currently rented through August 2024 for for $13,900 per month! A 5.7% CAP rate on current numbers WITH MANAGEMENT in place! Current management is very effective in negotiating high rental lease rates and is willing to stay on if desired at 6% GSI. Excellent Turn-Key return for an investor. Residential OR Commercial financing and rate options available!
Student rentals circumnavigate CA Rent control as they typically have new student groups each year. Shown with accepted offer only.
Student rentals circumnavigate CA Rent control as they typically have new student groups each year. Shown with accepted offer only.
Contact Agent
Alexio Barbara
760-419-1343
Investment Summary
Property Location
SOLD
$2,145,000
Property Type
Student Rental
Price/Unit
$1.075M
Units
Unit Mix
2
11beds/5baths
Price/Sq Ft
$640
NOI
$117,745
CAP
GRM
Sq Ft
Current
5.7
12.9
Imp
3,357
Year Built
1980
Proforma
7.1
10.9
Land
11,600
