CA > San Diego
San Diego, CA 92105,5502 06 E University AVE
San Diego, CA 92105,5502 06 E University AVE
San Diego, CA 92105,5502 06 E University AVE
San Diego, CA 92105,5502 06 E University AVE
San Diego, CA 92105,5502 06 E University AVE
San Diego, CA 92105,5502 06 E University AVE
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Val Ives

Val Ives

+1(951) 763-8899
$ 2,995,000
Est. payment | /mo

0.49 Acres Lot

Save Virtual Tour
$ 2,995,000
Est. payment | /mo
Save Virtual Tour

0.49 Acres Lot

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

MLS Listing ID NDP2506649

HOA Y/N No

Year Built 1950

Lot Size 0.491 Acres

Property Description

Aztec Canyon Apartments is a turnkey 10-unit multifamily asset located at 5502-06 University Avenue in the heart of San Diego's 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 mix—one 3BR, three 2BRs, and six 1BRs—all 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 2025—creating 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 both—Aztec Canyon checks all the boxes.

Location

State CA

County San Diego

Area 92105 - East San Diego

Zoning CC-5-3

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Biking, Curbs, Dog Park, Golf, Park, Street Lights, Sidewalks

View Y/N No

Total Parking Spaces 15

Private Pool No

Building

Lot Description 36-40 Units/Acre

Story 2

Sewer Public Sewer

Others

Senior Community No

Tax ID 4724100100

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2506649

CRMLS – RECore
Listed by Eric von Bluecher Lee & Associates evb@lee-associates.com
advisor-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(951) 763-8899

val@valerieives.com

27450 Ynez Rd Ste #316 Temecula, CA 92591, USA

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5502 06 E University AVE