Gut-Remodeled Duplex with Expansion
5067 Alumni Pl San Diego, CA 92115
For Sale
$1,599,000
Fully gut-remodeled 2-unit property with plans submitted to add two more units with street access from both sides.
Property Size3,000 SF
Price / SF$533
Days on Market89
Property Features for 5067 Alumni Pl
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1978
Listing Agency:
(760) 710-1897
Listed By:
Rory Cornelius
(760) 710-1897
Source:
Elliman
Added: Apr 29
Changed: Jul 23
Last Checked: Jul 24 at 2:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rory Cornelius
Investment Insights
Based on property information with market context.
5067 Alumni Place is a fully gut-remodeled, two-unit property with two spacious units, each offering 4 bedrooms and 2 bathrooms at approximately 1,500 square feet per unit (total 8B/4B). The existing improvements are described as having been completely renovated, with modern layouts and updated systems. Submitted plans call for constructing a new two-story building featuring two additional units with a patio deck, including a 4-bedroom, 2-bath unit of approximately 1,200 square feet and a 2-bedroom, 1-bath unit of approximately 600 square feet (total 6B/3B), with one unit on each level.
The property is located in the College Area directly adjacent to San Diego State University. The remarks note front and back street access from both sides for the existing property and proposed new unit, along with abundant parking on Reservoir Dr that does not require a permit. Walk Score is 91 (Walker’s Paradise), Bike Score is 54 (Bikeable), and Transit Score is 54 (Good Transit).
The property is located in the College Area directly adjacent to San Diego State University. The remarks note front and back street access from both sides for the existing property and proposed new unit, along with abundant parking on Reservoir Dr that does not require a permit. Walk Score is 91 (Walker’s Paradise), Bike Score is 54 (Bikeable), and Transit Score is 54 (Good Transit).
Key Highlights
- 1978‑built, fully gut‑remodeled 2‑unit property in the College Area directly adjacent to San Diego State University
- Two existing units: each 4 bed / 2 bath and approx. 1,500 SF (total 8B/4B); completely renovated with modernized interiors
- Stated expected rent: $6,000 per month per existing unit ($12,000 total)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.0k | $27.00 |
| − Vacancy | −$4.2k | −$1.41 |
| EGI | $76.8k | $25.59 |
| − OpEx | −$23.0k | −$7.68 |
| NOI | $53.7k | $17.91 |
3,000 SF · lease $27.00/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$767.7K
$671.8K – $895.7K
NOI $53,740 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$708.3K
$619.8K – $826.4K
NOI $49,584 @ 7.0% cap · market cap 3.10%
Theoretical Best
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,944 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Fully gut-remodeled 2-unit property with plans submitted to add two more units with street access from both sides.
Where is this duplex located?
The property is located at 5067 Alumni Pl San Diego, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 1978‑built, fully gut‑remodeled 2‑unit property in the College Area directly adjacent to San Diego State University; Two existing units: each 4 bed / 2 bath and approx. 1,500 SF (total 8B/4B); completely renovated with modernized interiors; Stated expected rent: $6,000 per month per existing unit ($12,000 total)
