5506 E University Avenue, San Diego, CA 92105

• 6 beds |
• 4 baths

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.

Listing Status:

Active

Listing Office:

Lee & Associates : 760-929-9700

Listing Agent:

Eric von Bluecher : 760-929-7846

MLS ID:

NDP2508951

Exterior

• Pool: N/K

Location

• HOA Amenities: 0.0
• Originating MLS: CRP
• County: San Diego

Lot

• Zoning: 4724100100

Financial

• Source: CRP

This listing courtesy of Eric von Bluecher, Lee & Associates