6241 Mary Lane Dr
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6241 Mary Lane Dr

D

San Diego, CA 92115

$1,500,000

Soft Appraisal Value: $1,477,300 · 1.5% above estimate

Beds

7

Baths

3

Sqft

1,796

Year Built

1949

Days on Market

8

Property Type

Single Family

HOA/mo

N/A

MLS ID

260011630SD

This property is in San Diego (92115). View neighborhood stats →

About This Property

PROPERTY CAN BE SOLD TOGETHER OR SEPARATELY FROM 6233 MARY LANE DR (the property next door) 6233 & 6241 Mary Lane present a rare opportunity to acquire two contiguous properties on one of the premier streets surrounding San Diego State University. Located within walking distance to campus, transit, and major retail amenities, the properties are ideally positioned to capitalize on the area’s consistently strong student housing demand. Historically operated as successful student rentals, the properties have demonstrated strong occupancy and consistent demand driven by the growing SDSU off-campus housing market. The assets offer attractive in-place income with additional upside through continued unit upgrades, operational improvements, and potential ADU additions, as several neighboring properties on the street have already completed. With functional layouts suited for roommate living, large flat lots, and valuable off-street parking, the properties provide an ideal opportunity for investors seeking stable cash flow, value-add potential, or future expansion opportunities in the highly sought-after College Area submarket.

Mortgage Calculator

Est. Monthly Payment

$9,522

Principal & Interest$7,585
Property Tax$1,500
Insurance$437
%($300,000)
%

Location

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Investment Score

22D
Est. Monthly Rent
$7,261
Monthly Cashflow

Rent − PITIA

$-2,261
Full Cashflow

Incl. vacancy, PM, maint, capex

$-5,181

Mortgage (P+I)
$7,585
Cap Rate
1.92%
Cash-on-Cash
-20.72%
DSCR

Need ≥ 1.25 for DSCR loan

0.76
Break-even Rent
$13,989

NOI (Annual)
$28,848
Price-to-Rent

Lower = better for investors

17.2

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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