5502 06 E University Avenue

San Diego , CA 92105

MLS#: NDP2506649

$2,995,000

Status: Active
Listing number: NDP2506649
Listing provided by: Lee & Associates
Listing agent phone: None
Last update: a day ago
On site: 19 days ago
Browse Properties
Main image without alt text

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1950

Sq.Footage

N/A

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.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    NO

  • Cooling

    N/A

  • Fireplace YN

    NO

  • Heating YN

    NO

  • Heating

    None

Exterior

  • Garage

    No

  • Pool

    Yes

  • Pool Features

    None

Area & Lot

  • Lot Size(acres)

    0.491

  • Property Type

    Residential Income

Price

  • Sales Price

    $2,995,000

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Association Amenities

    Dog Park

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    29

Schedule a Showing

Showing scheduled successfully.

<
>
IN PERSON
VIA CHAT

Change time

Mortgage calculator

Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.

Your payment

Principal and Interest:

$

Property taxes:

$

HOA fees:

$

Total loan payment:

$

Total interest amount:

$

Location

County

San Diego

Elementary School

Middle School

High School

Listing Courtesy of Eric von Bluecher , Lee & Associates

RealHub Information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. RealHub website owner shall not be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

Agent LinaMirza

FOUNDER

LinaMirza

Call Lina today to schedule a private showing.

(818) 321-0175

Lina@theosrealty.com


* Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request.© 2024 FMLS.
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.

5502 06 E University Avenue

Message successfully sent.

What would you like to know?

Related Properties

New on site 2 days ago
This fully remodeled and newly constructed property features a detached 2BR/1BA Home and two brand-new 3BR/2.5BA Townhomes with attached garages and private patios. Each unit is thoughtfully designed with quartz countertops, sleek cabinetry, modern finishes and in-unit laundry, appealing to long-term tenants seeking quality rentals. Two of the units are leased with strong market rents, while the third is vacant, providing immediate upside potential and flexibility. With a 4.03% current cap rate (4.35% market), competitive GRM, and minimal maintenance needs, this property is an exceptional asset. Located in the heart of Linda Vista, near USD, Fashion Valley, beaches, and major freeways, the 5,800 SF lot and 3,146 SF of net rentable space are ideally positioned to attract students, professionals, and families. Inquire for the Offering Memorandum!
#250034510SD

San Diego

2956 60 Ulric Street

None Beds

None Baths

N/A

$2,400,000

MLS#: 250034510SD

New on site 4 days ago
Discover an exceptional investment opportunity in the heart of Clairemont - a newly renovated 4 bedroom single family residence with 3 brand new ADU's for a total of 4 units, offering strong cash flow and long-term growth potential. Nestled in a desirable, centrally located neighborhood. This property features a large attached garage, outdoor patios and washer/dryers installed in each unit. Easy access to major freeways and shopping. Whether you're a seasoned investor or new to real estate, this turnkey asset is a rare chance to secure stable income and appreciation in one of San Diego’s most consistent rental markets. Unit breakdown: 4bed/2bath, 2bed/2bath, and 2x 1bed/1bath.
#PTP2505542

San Diego

4951 57 Genesee Avenue

None Beds

None Baths

2,928 Sq.Ft.

$2,500,000

MLS#: PTP2505542

724: owner's unit. Flexible floor plan. Large 3rd floor view deck. Back deck. 722: 2B2B long term rental ..shown with accepted offer 2nd & 3rd floor....Owner design & built in 1988. Many extras: dumbwaiter, Jenn air stove, inside access to garage from 2nd floor. Both units have hardwood flooring, washer/dryer. Large windows allowing lots of sun/light. 724 has custom front windows and pella windows thru out. View of beach, water & sunsets. Loads of windows some greenhouse design. Great opportunity to own in South Mission. Located on north-sunny side of the San Luis Rey Place. Steps to beach. Two car garage-724. Single parking space for 722. Copper Roof Lockbox will available after caravan on 7/22
#250034003SD

San Diego

722 724 San Luis Rey Place

None Beds

None Baths

N/A

$2,849,000

MLS#: 250034003SD

Investment Opportunity - Excellent chance to acquire four single-story investment homes, each leased by a national leader in care services for individuals with disabilities. All four properties to be sold and purchased as a bundle. Each home generates $42,303 in annual rental income for a total of $169,212 per year and a 3% annual increases per year. The 5-year lease is backed by a strong national adult care facility, ResCare Bright Spring. Tenant is responsible for utilities, general maintenance, and landscaping. The property owner is responsible for structural maintenance. Bundle Price for all 4 properties: $2,820,000. This listing features all four homes and pictures of all. Addresses: 1384 Frauline Dr, San Diego; 1382 Tobias Dr, Chula Vista; 1805 Ionian St, San Diego; 5979 Harps Ct, San Diego.
#NDP2507086

San Diego

5979 Harps Court

None Beds

None Baths

1,880 Sq.Ft.

$2,820,000

MLS#: NDP2507086

Fully occupied and income-producing, the Arizona Street parcels at 4712 & 4714–16 Arizona St offer a rare 23,000 SF development opportunity in the heart of University Heights. This double-lot site presents a compelling blend of stable in-place income and long-term redevelopment potential in one of San Diego’s most desirable infill neighborhoods. The property currently generates $8,125/month from a remodeled single-family home and a well-maintained duplex. Much of the site is dedicated to surface parking, creating a clear path for higher-density residential development. Plans have been submitted to the City of San Diego for 18 two-story ADU townhome units (nine duplex-style buildings), streamlining the path for a buyer to execute on a shovel-ready strategy—or adapt the site for their own vision. Located within a Transit Priority Area and zoned RM-1-1, the site benefits from reduced parking requirements and enhanced density options. This site is available individually or as part of a larger 3.14-acre portfolio when combined with the adjacent 2436 Adams Avenue property, which features an additional 16 entitled units. Together, the assemblage offers 34 proposed units across three prime parcels. Whether acquired separately or as part of a larger play, this is a standout opportunity for developers and investors seeking immediate income with entitlement upside in central San Diego.
#250033791SD

San Diego

4714 16 Arizona St

None Beds

None Baths

N/A

$3,250,000

MLS#: 250033791SD

Seller will entertained offers. Prime 7-Unit Investment Opportunity Near USD – Linda Vista Exceptional multi-unit investment property located just minutes from the University of San Diego in the desirable Linda Vista neighborhood. The building consists of 7 total units: Fourplex in the back all featuring 2 bed/1 bath units, and a duplex in the front both 1 bed/1 bath units, and one studio. Six units are currently occupied by long-term tenants. The studio unit is currently vacant and being used as storage. Tenants enjoy a lush outdoor setting highlighted by a wide variety of mature fruit trees, including Cherimoya, Dragon Fruit, Avocados, Guavas, Lemons, and Asian Apples—an uncommon and appealing amenity that adds to the charm and livability of the property. Centrally located near major freeways, shopping, dining, public transit, and just minutes from USD, this is an ideal investment in a strong rental market with long-term upside. Property is 2 mins away from Sharp and Children's Hospital, 7 mins away from Fashion Valley and Airport. Very conveniently located.
#PTP2505349

San Diego

6736 40 Kelly Street

None Beds

None Baths

4,820 Sq.Ft.

$3,199,000

MLS#: PTP2505349

Variance granted 2-4 Units. ADU LEASED FOR $3,300/MO - moved in on 7/1/25 with lease thru 12/31/25. Experience breathtaking ocean views and coastal luxury in this charming coastal chic property that seamlessly blends modern convenience with designer finishes that enhance both the primary residence and newly built ADU. Sweeping ocean views can be enjoyed from three of the home's five bedrooms, as well as the open-concept kitchen and living area. The reimagined kitchen boasts high-end finishes and thoughtful details, including a pull-out trash drawer, open shelving, an under-counter microwave, a beverage refrigerator, and a spacious island with bar seating. The primary bedroom is a true retreat, featuring two private decks—one with stunning southwest-facing ocean views and the other with breathtaking northwest-facing ocean views. A newly constructed detached 411 SF 1-BD ADU sits atop a 1-car garage, offering incredible ocean views from both the bedroom and living space. On the third level, a private rooftop deck takes full advantage of the panoramic coastline—arguably some of the best ADU views in San Diego County. The ADU features in-unit laundry, split HVAC units in both the L/R in Bed, and designer finishes. Endless possibilities await—rent out the ADU, live in it and lease the main house, or use it as a private retreat for guests or family. Don't miss this rare opportunity to own a fully updated coastal home with unmatched ocean views, high-end finishes, and ultimate flexibility. !!
#250033358SD

San Diego

4569 71 Coronado Ave

None Beds

None Baths

N/A

$2,550,000

MLS#: 250033358SD

We are honored to present - 707 Ensenada Ct - a beautifully remodeled & TURN KEY trophy asset by the sea. This corner lot*, with un-obstructable OCEAN VIEWs and superior unit mix appeal to investors with an eye for both short-term and long-term gains. Each dwelling pulls serious weight on platforms like Airbnb, commanding up to $900+ per night(not including fees and taxes) during the peak Summer months. When the crowds thin out in winter, lock in reliable income with monthly rentals at prevailing market rates: Three bed / two bath fetches $5,000 per month. A 2 bed / 2 bath: $4,500 per month and a 2 bed / 1 bath: $4,250 per month. Each unit gets 1 of the (3) single car garages attached.
#250032852SD

San Diego

707 Ensenada Ct

None Beds

None Baths

N/A

$3,200,000

MLS#: 250032852SD

Timeless elegance offering a generous family compound on the iconic and tree-lined Sunset Blvd, located in the highly sought after North Mission Hills community. Stunning coffered ceilings, a showcase fireplace, and LaCantina doors provide a seamless indoor and outdoor, open-concept dining and living atmosphere. Entertain loved ones in a chef’s kitchen, sip tea at the breakfast bar, and create your plant loving, book reading sanctuary in the charming sunroom with picturesque bay windows looking out on views of the community! A canvas for outdoor enthusiasts, garden lovers, pet lovers, and children awaits in the expansive tree-shaded backyard that offers terraced landscaping and is fully fenced with additional parking! Upstairs, four spacious bedrooms await, including a primary retreat with a zen inspired soaking tub and walk-in shower room. The third floor flex room is the perfect den for crafts, a playroom, or additional storage. Perched above a rare detached 3 car garage is a one bedroom, one bathroom ADU with a kitchenette and its own balcony and entry! Perfection awaits for multi-generational families in need of a separate second home or a buyer desiring a robust rental income - the options are unlimited! The magical and historic Mission Hills neighborhood is a central yet quaint metro San Diego location that offers good schools, award-winning eateries, treasured parks, stunning architecture, and local shops right outside your front door.
#250032746SD

San Diego

1864 Sunset Blvd

None Beds

None Baths

N/A

$3,298,000

MLS#: 250032746SD

- property

Send a message

Message successfully sent.

Your message

Reason for contacting?

Sign Out

Virtual Assistant

Would you like to receive some additional information on this specific property or similar properties?

Yes, I would like more information.

Thank You for Your Reply, One of Our Agents will contact you as soon as possible

No, maybe later.

Thank you, you can always contact me via email, phone number or through the contact form.

Realhub AI

Lucy - Your AI-Powered Realtor

Update Your Temporary Password

Personalize your search

Enter your email and we'll notify you immediately when new listings match what you're looking for.

or enter email address

Already have an account ? Login here

Continue your home search

Already have an account ? Login here