5129 Leo St San Diego, CA 92115
College East Neighborhood
8
Beds
4
Baths
--
Sq Ft
5,881
Sq Ft Lot
About This Home
As of December 2024Prime opportunity walking distance from SDSU and generates $11,240 of gross rents! This is a value-add property with the opportunity to increase rents further to $12,000+ per month. Ideally located for off-campus student housing, ensures strong rental demand and high rental income. The front house offers 4 bedrooms and 2 bathrooms, now generating $6,040 monthly, while the second unit (new construction ADU) also boasts 4 bedrooms and 2 bathrooms, bringing in $5,200 monthly. This unit includes paid off Solar. Currently a 5.5% Cap Rate, this property has the ability to maximize rents to a pro forma 5.8% Cap Rate. With its unbeatable location and consistent rental demand, this property promises a steady and lucrative return.
Last Agent to Sell the Property
Keller Williams Realty License #02043589 Listed on: 11/06/2024
Last Buyer's Agent
Austin Ball
Austin Ball, Broker License #02132673
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,512
Year Built
- Built in 1954
Interior Spaces
- 1-Story Property
Listing and Financial Details
- Assessor Parcel Number 467-123-10-00
Community Details
Overview
- 2 Buildings
- 2 Units
- Sdsu/College Area Community
Building Details
- Net Operating Income $102,799
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Nov 6, 2024
Closed on
Dec 20, 2024
Sold by
Compound Stratagies Llc
Bought by
Ball Family Trust and Ball
Seller's Agent
Daniel Sipher
Keller Williams Realty
Buyer's Agent
Austin Ball
Austin Ball, Broker
List Price
$1,749,999
Sold Price
$1,680,000
Premium/Discount to List
-$69,999
-4%
Total Days on Market
19
Views
21
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$14,892
Avg. Annual Appreciation
-3.03%
Original Mortgage
$1,256,115
Outstanding Balance
$1,248,460
Interest Rate
6.78%
Mortgage Type
New Conventional
Estimated Equity
$401,813
Purchase Details
Closed on
Aug 14, 2023
Sold by
Scal Investments Llc and Diversified Re Holdings Llc
Bought by
Compound Strategies Llc
Purchase Details
Closed on
Jun 4, 2018
Sold by
Milstein Rena
Bought by
5005 & 5129 Llc
Purchase Details
Closed on
Sep 20, 2016
Sold by
Milstein Michael D
Bought by
Milstein Rena
Purchase Details
Closed on
May 21, 2014
Sold by
Milstein Michael D and Milstein Rena
Bought by
Milstein Michael D and Milstein Rena
Purchase Details
Closed on
Dec 28, 2006
Sold by
Milstein Frederick and Milstein Esther A
Bought by
Milstein Michael D and Milstein Rena
Purchase Details
Closed on
Sep 8, 1988
Bought by
Milstein Michael D Rena
Similar Homes in the area
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,680,000 | Wfg National Title Company Of | |
| Grant Deed | $1,680,000 | Wfg National Title Company Of | |
| Grant Deed | -- | None Listed On Document | |
| Grant Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | -- | None Available | |
| Deed | $155,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,256,115 | New Conventional | |
| Closed | $1,256,115 | New Conventional | |
| Previous Owner | $400,000 | Credit Line Revolving | |
| Previous Owner | $480,000 | New Conventional | |
| Previous Owner | $200,000 | Unknown | |
| Previous Owner | $106,500 | Unknown |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/31/2024 12/31/24 | Sold | $1,680,000 | 0.0% | $643 / Sq Ft |
| 12/31/2024 12/31/24 | Sold | $1,680,000 | -4.0% | -- |
| 11/26/2024 11/26/24 | Pending | -- | -- | -- |
| 11/26/2024 11/26/24 | Pending | -- | -- | -- |
| 11/06/2024 11/06/24 | For Sale | $1,749,999 | 0.0% | $670 / Sq Ft |
| 11/06/2024 11/06/24 | For Sale | $1,749,999 | -- | -- |
Source: San Diego MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $10,512 | $1,680,000 | $1,279,900 | $400,100 |
| 2024 | $10,512 | $853,128 | $707,472 | $145,656 |
| 2023 | $10,280 | $836,400 | $693,600 | $142,800 |
| 2022 | $3,366 | $274,059 | $112,650 | $161,409 |
| 2021 | $3,344 | $268,687 | $110,442 | $158,245 |
| 2020 | $3,303 | $265,933 | $109,310 | $156,623 |
| 2019 | $3,245 | $260,719 | $107,167 | $153,552 |
| 2018 | $3,035 | $255,608 | $105,066 | $150,542 |
| 2017 | $80 | $250,597 | $103,006 | $147,591 |
| 2016 | $2,915 | $245,685 | $100,987 | $144,698 |
| 2015 | $2,872 | $241,996 | $99,471 | $142,525 |
| 2014 | $2,828 | $237,257 | $97,523 | $139,734 |
Source: Public Records
Agents Affiliated with this Home
-
D
Seller's Agent in 2024
Daniel Sipher
Keller Williams Realty
-
J
Seller Co-Listing Agent in 2024
Jason Lee
Nara Advisors, Inc.
-
A
Buyer's Agent in 2024
Austin Ball
Austin Ball, Broker
Map
Source: San Diego MLS
MLS Number: 240026167
APN: 467-123-10
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