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$2,100,000
Est. payment /mo
6,398 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260026770SD
HOA Y/N No
Year Built 1988
Lot Size 6,398 Sqft
Property Description
Two detached units on one lot in a prime location, just 1/3 mile from San Diego State University! Situated on a wide 6,400-square-foot lot, 5545-47 Mary Lane Drive is comprised of a 6 Bedroom/3 Bathroom front house and a 2019 construction, 4 Bedroom/2 Bathroom ADU in the rear. Both units feature modern finishes, private fenced yard & patio spaces, and dedicated on-site or in-unit laundry. The front residence has exclusive use of the long driveway with tandem parking for three vehicles. Additionally, each unit receives four street parking permits for a total of eight permits. Both units are leased through July 2027, generating a combined monthly income of $11,495, with professional third-party property management already in place. Historically, the property has secured leases 7–10 months in advance of each academic year, due to its highly desirable location, unit layouts and high-end finishes. The property is already being marketed for the 2027–2028 academic year at a projected 5.0% cap rate. This is an outstanding opportunity to acquire a well-established, income-producing student rental property, on a highly desirable street.
Location
State CA
County San Diego
Area 92115 - San Diego
Building/Complex Name College Area
Interior
Heating Natural Gas
Cooling Central Air, Wall/Window Unit(s)
Fireplace No
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4661501400
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/snd/260026770
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Listed by Tyler Joseph Hadzicki Coldwell Banker Realty #02080349
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