5506 University

San Diego, CA, 92105

For Sale $2,795,000

0.49acre

Shen Schulz (310) 980-8809shen@shenrealty.com

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.

Get in touch

Interested in this property or one like it? Reach out today to talk with advertising agent Shen Schulz.

First name *

Last name *

Company/Organization

Email address *

Phone number

Enter your message here...

By checking this box and submitting your information, you agree to be contacted by Shen Realty via call, email, and text for real estate services. To opt out, you can reply “STOP” at any time or reply “HELP” for assistance. You can also click the unsubscribe link in our emails. Message and data rates may apply. Message frequency may vary. Data will not be sold or shared with third parties for promotional or marketing purposes. View our full Privacy Policy.

Listed by:

Eric von Bluecher with Lee & Associates

(760) 929-9700

5506 University is a Residential Income property located in San Diego, California, featuring a 0.491 acre lot, MLS #NDP2508951.

Based on information from one of the following Multiple Listing Services: CRMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Trestle and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements.

Data last modified: 2025-12-01 06:45:25