5101 Alumni Place W, San Diego, California 92115, San Diego, 92115 - 3 bed, 3 bath

5101 Alumni Place W, San Diego, California 92115 home-pic-0
ACTIVE$1,200,000
5101 Alumni Place W, San Diego, California 92115
3Beds
3Baths
1,468Sqft
5,900Lot
Year Built
1977
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$817
HOA
-
Days on market
-
Sold On
-
MLS number
250043390SD
Home ConditionPoor
Features
Deck
View

About this home

Possibly Over-Priced:The estimated price is 4% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.20M(78th), sqft - 1468(59th), beds - 3(50th), baths - 3(78th).

-Large Family Home -Originally 3 Bedroom 2 Bath -Originally 1,468 Sqft. -Originally 2 Car Garage -NOW An approximate 2,113 Sqft. Home -NOW 6 Bedrooms 3 Bathrooms (Converted Garage & Bonus Areas) -NO Permits Found On Conversion, Bonus Areas & Additional Footage -Currently A Vacant Short Term Rental Home For SDSU Students -Terrific Income On Short Term Rentals If Kept In Service -Possibility For Creative Owner Financing -Possibility For Lease To Own -Possibility For AITD or Subject To Purchasing Owners Will Look At All Offers Or Ideas So Please Just Ask To Discuss... Disclosure: Faux Hardwood Flooring has been installed and pictures reflect previous carpeted floornig.

Nearby schools

5/10
Clay Elementary School
Public,K-50.5mi
4/10
Rolando Elementary School
Public,K-60.7mi
10/10
Hearst Elementary School
Public,K-51.0mi
8/10
Hardy Elementary School
Public,K-51.4mi
3/10
Fay Elementary School
Public,K-52.1mi
5/10
Foster Elementary School
Public,K-52.2mi
4/10
Franklin Elementary School
Public,K-52.9mi
4/10
Mann Middle School
Public,6-81.7mi
/10
La Mesa Middle School
Public,7-81.8mi
8/10
La Mesa Arts Academy
Public,4-81.9mi
8/10
Lewis Middle School
Public,6-82.2mi
/10
La Mesa-Spring Valley Home School/Independent Study
Public,K-82.8mi
4/10
Wilson Middle School
Public,6-83.5mi
6/10
Science, Technology, Engineering, Arts, And Math Academy At La Presa
Public,4-85.0mi
4/10
Crawford High School
Public,9-121.8mi
8/10
Patrick Henry High School
Public,9-121.8mi
5/10
Hoover High School
Public,9-122.6mi
7/10
Grossmont High School
Public,9-124.2mi
3/10
Idea Center
Public,9-125.5mi

Price History

Date
Event
Price
11/05/25
Listing
$1,200,000
03/30/23
Sold
$911,000
12/16/99
Sold
$198,000
Condition Rating
Poor

The property, built in 1977, has undergone some recent cosmetic updates including faux hardwood flooring, updated white kitchen cabinets, laminate countertops, and recessed lighting. However, these updates appear to be budget-friendly (e.g., white appliances, laminate counters) and one bedroom still features older, dated carpet. Crucially, the listing explicitly states that significant portions of the home, including converted garage and bonus areas, resulting in an expansion from 3 beds/2 baths to 6 beds/3 baths and increased square footage, were done without permits. This lack of permits represents a substantial defect affecting the property's legality, potential safety, and structural integrity, requiring significant repairs and rehabilitation to bring it up to code. While cosmetically some areas look refreshed, the fundamental issue of unpermitted conversions outweighs these updates and places the property in a 'poor' condition category due to the substantial work and liability required.
Pros & Cons

Pros

Great Schools: Elementary School: Hearst Elementary School (10/10).
Strong Rental Income Potential: The property is currently a successful short-term rental for SDSU students, indicating high demand and a proven income stream due to its strategic location near the university.
Expanded Living Space: The home has been significantly enlarged from its original 1,468 sqft to approximately 2,113 sqft with 6 bedrooms and 3 bathrooms, offering substantial capacity for a large family or multiple tenants.
Flexible Purchase Terms: The sellers are open to creative owner financing, lease-to-own, AITD, or Subject To purchasing, providing diverse and potentially advantageous acquisition options for buyers.
Motivated Seller: The listing explicitly states that owners will consider all offers and ideas, suggesting a high degree of flexibility and willingness to negotiate on price and terms.
Access to Quality Schools: Located within proximity to several highly-rated public schools, including Hearst Elementary (rated 10) and Patrick Henry High School (rated 8), enhancing its appeal to families.

Cons

Unpermitted Conversions: Significant portions of the property, including converted garage and bonus areas, lack permits, which could lead to legal issues, safety concerns, and challenges with insurance or future resale.
Financing and Appraisal Risks: The discrepancy between the original permitted square footage/bedroom count and the current unpermitted expansion may complicate traditional mortgage financing and impact appraisal values.
Potential Overpricing: The current listing price of $1.2 million is approximately 9% higher than the estimated property value of $1.085 million, suggesting it may be priced above current market estimations.

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