5502 University Avenue
San Diego, CA 92105
Active for $3,250,000
Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 21,344 sqft
| MLS | 240026674SD |
| Year Built | |
| Property Type | Mixed Use |
| County | San Diego |
| Status | Active |
| Active | $3,250,000 |
| Structure Size | N/A sqft |
| Lot Size | 21,344 sqft |
| Beds | N/A |
| Baths |
Description
The Aztec Canyon Apartments at 5502-06 University Avenue is a 10-unit apartment complex that consists of 5,866 rentable square feet built in 1950 situated on a 21,344 square foot lot with over 12 parking spaces. The unit mix consists of one 3 Bed / 1 Bath unit, three 2 Bed / 1 Bath units, and six 1 Bed / 1 Bath units as well as a billboard that generates income. All the units are completely renovated with brand-new windows, interior finishings, kitchens, vanities, high-end appliances, AC units, vinyl flooring and new appliances. Two units are affordable. There are two washers and two dryers in an on-site laundry room and tenants are billed back for some utilities. There is an assumable Chase loan with a balance of $1,449,000 fixed at 3.34% maturing in March of 2027. There are plans to build twenty 1 Bed / 1 Bath units and additional parking in the rear of the property. The contract for the billboard is up for renewal in January 2025. Soil report, slope study and full topo survey are also available. The property is in the Complete Communities Housing Plan which allows for 6.5 FAR with parking relaxation incentives and no height limits.
Listing information courtesy of: Benn Vogelsang, NorthMarq Multifamily 415-250-4947. *Based on information from the Association of REALTORS/Multiple Listing as of 11/22/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Logan Allred
REALTOR®
Direct: 909.766.0552
Email: Email Me
DRE: 02145882
DRE #01873088
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