5506 E University Avenue, San Diego, CA 92105 - MLS#NDP2508951

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,795,000

Est. payment | -/mo

6 Beds

Save

$ 2,795,000

Est. payment | -/mo

Save

6 Beds

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID NDP2508951

Bedrooms 6

Property Sub-Type Res Income 2-4 Units

Property Description

Aztec Canyon Apartments is a turnkey 10-unit multifamily asset located at 5502-06 University Avenue in the heart of San Diegos Complete Communities zone. Situated on a generous 21,344 SF lot with 12+ parking spaces, this fully renovated 5,875 SF property features a strong unit mixone 3BR, three 2BRs, and six 1BRsall upgraded with new windows, sleek modern finishes, A/C, vinyl plank flooring, premium appliances, and updated kitchens and baths. Two units are designated affordable. The site offers multiple income streams and future upside. An on-site billboard generates passive income, with its lease expiring in January 2025creating potential for renegotiation or redevelopment. Zoned for mixed-use with 6.5 FAR, no height limits, and parking incentives under Complete Communities, the property is well-positioned for density bonus and infill expansion. An assumable Chase loan at a 3.34% fixed rate through March 2027 adds financial appeal. Preliminary studies and conceptual plans for 20 additional 1BR units and new rear parking are available. Other perks include on-site laundry (2 washers / 2 dryers) and utility billbacks. Whether you're seeking stabilized income, development opportunity, or bothAztec Canyon checks all the boxes.

Location

State CA

County San Diego

Direction E on university ave, in front of burlington and northgate shopping center

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 4724100100

Listed by Eric von Bluecher Lee & Associates

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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5506 E University Avenue San Diego, CA 92105