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5502 06 E University Avenue, 
San Diego, CA 92105

$2,995,000


Bed


Bath


5,875

Sq Ft


Multi-Family


Virtual Tour

Active

Listed by

Eric Von Bluecher

Lee & Associates

760-929-9700

Last updated:

July 16, 2025, 01:27 PM

MLS#

NDP2506649

Source:

CRMLS

About This Home

5502 06 E University Avenue

The Aztec Canyon Apartments at 5502-06 University Avenue is a fully renovated 10-unit multifamily property totaling approximately 5,875 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.

Home Facts

Multi-Family

Built in 1950

Price Summary

2,995,000

$509 per Sq. Ft.

MLS #:

NDP2506649

Last Updated:

July 16, 2025, 01:27 PM

Added:

a month ago


Rooms & Interior

Interior

Living Area:

5,875 Sq. Ft.


Structure

Structure

Building Area:

5,875 Sq. Ft.

Year Built:

1950


Lot

Lot Size (Sq. Ft):

21,387


Finances & Disclosures

Finances

Price:

$2,995,000

Price per Sq. Ft:

$509 per Sq. Ft.

Source:CRMLS
Based on information from California Regional Multiple Listing Service, Inc. as of July 24, 2025 . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.