What security problems do you see here?
An IP inside the SAN is perfectly fine and used in environments where is no DNS service available but certificates are needed.
CA/B Forum, an SSL industry regulator, sets the following requirements of using IP addresses in SSL certificates:
If the X.509 v.3 certificate contains an IP address, then it must be included in the SAN extension as the iPAddress name (not dNSName).
A certificate may include multiple IP addresses
There are some problems with handling iPAddress in the SAN in Windows® prior to version 10. To cope with these issues, you must add an IP address to the outdated commonName field of the X.509 v.3 certificate. If the certificate contains an IP address in the SAN extension with iPAddress and in commonName, then the certificate check will succeed. It is worth noting that downside of this implementation is inability to include multiple IP addresses in the common name of single certificate.