5502 E E University Avenue
San Diego, CA, 92105
$2,995,000
Beds
0 Baths
SqFt
0.49 Acres
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The Aztec Canyon Apartments at 5502-06 University Avenue is a fully renovated 10-unit multifamily property totaling approximately 5,866 rentable square feet, situated on a large 21,344 SF lot with over 12 parking spaces. Built in 1950, the unit mix includes one 3 Bed / 1 Bath unit, three 2 Bed / 1 Bath units, and six 1 Bed / 1 Bath units. All units have been extensively upgraded with new windows, modern finishes, updated kitchens and bathrooms, vinyl flooring, high-end appliances, and in-unit A/C. Two units are designated affordable. The property includes on-site laundry (2 washers / 2 dryers), and tenants are billed back for select utilities. There is an income-generating billboard on-site with the current lease expiring January 2025, presenting an opportunity for increased passive income. The property falls within the Complete Communities Housing Plan, offering 6.5 FAR, no height restrictions, and parking relaxation incentives for potential future development. Additionally, the Community Plan designates the site under mixed-use zoning: Residential: 11–15 DU/AC Commercial/Mixed-Use: up to 29 DU/AC, with potential bonus density up to 43 DU/AC where residential is permitted. An assumable Chase loan at a 3.34% fixed rate through March 2027 is in place. Preliminary plans for 20 additional 1 Bed / 1 Bath units and new parking in the rear are available, along with a slope study, soil report, and topo survey.

Property Details

Price:
$2,995,000
MLS #:
NDP2506649
Status:
Active
Baths:
0
Address:
5502 E E University Avenue
Type:
Residential Income
Neighborhood:
92105eastsandiego
City:
San Diego
Listed Date:
Jun 27, 2025
State:
CA
ZIP:
92105
Lot Size:
21,388 sqft / 0.49 acres (approx)
Year Built:
1950
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Lot Features
36-40 Units/ Acre, Lot 20000-39999 Sqft
Parking Spots
15.00
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None
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2

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5502 E E University Avenue
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