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5109 Alumni Place, San Diego, California 92115, San Diego, 92115 - 4 bed, 2 bath

5109 Alumni Place, San Diego, California 92115 home-pic-0
ACTIVE$1,069,000
5109 Alumni Place, San Diego, California 92115
4Beds
2Baths
1,388Sqft
Lot
Year Built
1955
Close
-
List price
$1.07M
Original List price
$1.07M
Price/Sqft
$770
HOA
-
Days on market
-
Sold On
-
MLS number
250043846SD
Home ConditionExcellent
Features
View-

About this home

Possibly Over-Priced:The estimated price is 3% below the list price. We found 4 Cons,7 Pros. Rank: price - $1.07M(66th), sqft - 1388(51th), beds - 4(78th), baths - 2(50th).

4 Bed | 2 Bath | Huge Lot | ADU & SB-9 Ready | Turnkey College Area Investment An exciting mid-century single-story gem in San Diego’s thriving College Area, just minutes from SDSU and walkable to shops, restaurants, and public transit. This 4 bed, 2 bath home sits on an expansive lot with ADU drawings posted in the MLS to save you time and money - contact listing agent for them. A great opportunity for a SB-9 lot split with dual access from Reservoir Dr, this property offers rare upside potential—build a second home, split and sell, or create multiple rental income streams. Fully updated with modern finishes—new flooring, quartz counters, stainless appliances, upgraded lighting, and energy-efficient windows—this home blends turnkey comfort with real development potential. The oversized 2-car garage adds flexibility for conversion or storage. The drought-tolerant landscaping keeps maintenance low while leaving room to expand, entertain, or build out. Currently operating as a high-income SDSU student rental, it’s also a perfect opportunity for house hackers, developers, or anyone looking to build long-term wealth in one of San Diego’s most in-demand rental corridors. Assumable VA loan with low gap may be available—ask about creative financing options! Whether you’re looking for cash flow, future development, or a centrally located home with charm and upside, 5109 Alumni delivers!

Nearby schools

5/10
Clay Elementary School
Public,•K-5•0.5mi
4/10
Rolando Elementary School
Public,•K-6•0.7mi
10/10
Hearst Elementary School
Public,•K-5•0.9mi
8/10
Hardy Elementary School
Public,•K-5•1.4mi
3/10
Fay Elementary School
Public,•K-5•2.1mi
5/10
Foster Elementary School
Public,•K-5•2.2mi
4/10
Franklin Elementary School
Public,•K-5•2.9mi
4/10
Mann Middle School
Public,•6-8•1.7mi
/10
La Mesa Middle School
Public,•7-8•1.9mi
8/10
La Mesa Arts Academy
Public,•4-8•1.9mi
8/10
Lewis Middle School
Public,•6-8•2.2mi
/10
La Mesa-Spring Valley Home School/Independent Study
Public,•K-8•2.8mi
4/10
Wilson Middle School
Public,•6-8•3.5mi
6/10
Science, Technology, Engineering, Arts, And Math Academy At La Presa
Public,•4-8•5.0mi
8/10
Patrick Henry High School
Public,•9-12•1.8mi
4/10
Crawford High School
Public,•9-12•1.8mi
5/10
Hoover High School
Public,•9-12•2.6mi
7/10
Grossmont High School
Public,•9-12•4.2mi
3/10
Idea Center
Public,•9-12•5.5mi

Price History

Date
Event
Price
11/12/25
Listing
$1,069,000
11/22/23
Sold
$920,000
12/29/15
Sold
$512,000
06/24/15
Sold
$375,000
Condition Rating
Excellent
Despite being built in 1955, the property has been 'fully updated with modern finishes' including new flooring, quartz counters, stainless appliances, upgraded lighting, and energy-efficient windows. The images confirm recent renovations, showcasing a modern bathroom vanity, updated flooring, a contemporary ceiling fan, and a mini-split AC unit in the bedroom. The exterior also appears well-maintained and updated. This extensive renovation, likely completed within the last 5 years given the recent sale in late 2023, brings the property to a virtually new condition, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7600, living area = 1216.
Great Schools: Elementary School: Hearst Elementary School (10/10).
Development Potential: Expansive lot with ADU drawings available and SB-9 readiness, offering significant upside for building a second home, lot split, or creating multiple rental income streams.
Turnkey & Modern Updates: Fully updated with modern finishes including new flooring, quartz counters, stainless appliances, upgraded lighting, and energy-efficient windows, providing immediate comfort and reduced initial expenses.
Prime Investment Location: Strategically located in San Diego's College Area, minutes from SDSU and walkable to amenities, currently operating as a high-income student rental with strong cash flow potential.
Flexible Financing Options: Potential availability of an assumable VA loan with a low gap, offering a unique and attractive financing opportunity for eligible buyers.
Large & Low-Maintenance Lot: An expansive lot with drought-tolerant landscaping provides ample space for expansion or entertainment while minimizing maintenance efforts.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1388, other record living area = 1216. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Age of Property: Built in 1955, the property's underlying infrastructure may present unforeseen maintenance or upgrade requirements despite recent cosmetic updates.
Listing Price vs. Estimated Value: The current list price of $1,069,000 is approximately 4% higher than the estimated property value of $1,023,698.90, potentially limiting immediate equity or requiring a price adjustment.
Student Rental Management Demands: While profitable, operating as a high-income student rental typically involves higher tenant turnover and increased management demands compared to traditional long-term rentals.

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