Student Housing

SDSU Student Housing

6233 Mary Ln Dr, San Diego, CA 92115

Listing Price: $1,305,000

Cap Rate
5.03%
Number of Units
1
Occupancy
100.0%
Price/Unit
$1,305,000
Price/Gross SF
$725.00
Gross SF
1,800

Investment Overview

Marcus and Millichap is pleased to present two freshly remodeled residential student housing properties located just a block from the San Diego State campus. Both properties are roughly 1800 square feet and have 5 bedrooms inside the houses and the garages have been turned into ADU’s with 2 more bedrooms in each. Located on the most popular student housing street at San Diego State these properties are currently leased until june 2021. With high demand by students these properties have never sat vacant, and will be leased at the pro forma rate for the 2021/2022 school year by December through the current management company. Due to year long leases these properties do not fall under California AB 1482 Statewide rent increase restrictions allowing the rent to rise to meet the market every year. With a current cap rate of 5.03 and a pro forma of almost 5.9 these properties make for a great investment in the most sought after student housing market at San Diego State University.

Investment Highlights

  • Prime San Diego Location
  • Brand New Remodel
  • Low Management Fee
  • Large Upside in Rental Income
  • High Demand From Students to live at the property

Exclusively Listed By

Financing By

Student Housing

SDSU Student Housing

Listing Price: $1,305,000

Cap Rate
5.03%
Number of Units
1
Occupancy
100.0%
Price/Unit
$1,305,000
Price/Gross SF
$725.00
Gross SF
1,800

Investment Highlights

  • Prime San Diego Location
  • Brand New Remodel
  • Low Management Fee
  • Large Upside in Rental Income
  • High Demand From Students to live at the property

Investment Overview

Marcus and Millichap is pleased to present two freshly remodeled residential student housing properties located just a block from the San Diego State campus. Both properties are roughly 1800 square feet and have 5 bedrooms inside the houses and the garages have been turned into ADU’s with 2 more bedrooms in each. Located on the most popular student housing street at San Diego State these properties are currently leased until june 2021. With high demand by students these properties have never sat vacant, and will be leased at the pro forma rate for the 2021/2022 school year by December through the current management company. Due to year long leases these properties do not fall under California AB 1482 Statewide rent increase restrictions allowing the rent to rise to meet the market every year. With a current cap rate of 5.03 and a pro forma of almost 5.9 these properties make for a great investment in the most sought after student housing market at San Diego State University.

Exclusively Listed By

Financing By

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