CA > San Diego
San Diego, CA 92105,5506 E University AVE
San Diego, CA 92105,5506 E University AVE
San Diego, CA 92105,5506 E University AVE
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Chris Sloan

Chris Sloan

+1(858) 330-6289
$2,795,000
Est. payment /mo
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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

MLS Listing ID NDP2508951

HOA Y/N No

Year Built 1950

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, Outside

Exterior

Pool None

Community Features Biking, Curbs, Dog Park, Fishing, Golf, Hiking, Lake, Park, Sidewalks

View Y/N No

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/NDP2508951

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

REALTOR® Chris Sloan works all areas of San Diego real estate and adjacent areas in Southern California-from single family homes to multi-unit residential, investment properties, land, and commercial buildings.

 

He’s adept at helping buyers and sellers with traditional equity transactions, short sales, probate, trust sales, foreclosures, corporate transactions, and exchanges

+1(858) 330-6289

info@sandiegopropertysearch.com

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5506 E University AVE

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