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.
Property Details
Price:
$2,995,000
MLS #:
NDP2506649
Status:
Active
Baths:
0
Address:
5502 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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Schools
Interior
Exterior
Community Features
Curbs, Golf, Sidewalks, Street Lights, Biking, Dog Park, Park
Garage Spaces
0.00
Lot Features
36-40 Units/ Acre, Lot 20000-39999 Sqft
Parking Spots
15.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Financial
Association Fee
0.00
Map
Community
- Address5502 E University Avenue San Diego CA
- Area92105 – East San Diego
- CitySan Diego
- CountySan Diego
- Zip Code92105
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5502 E University Avenue
San Diego, CA
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