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10 Units + Development Central San Diego 5502-5506 University Ave 10 Unité Immeuble d’appartements 3 829 195 $ CAD (382 919 $ CAD/Unité) 5,57% Taux de capitalisation San Diego, CA 92105
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- Fully Renovated Units interiors including new kitchens, windows, flooring, appliances, and A/C.
- Billboard Income Opportunity On-site billboard with lease expired January 2025—option to lease at higher market rate
- Large Lot with Parking Situated on a 21,388 SF lot with over 12 off-street parking spaces
- Attractive Unit Mix Diverse mix of (1) 3BD/1BA, (3) 2BD/1BA, and (6) 1BD/1BA units with strong rental demand.
- Development Potential Complete Communities Tier 4: 6.5 FAR, no height limit, parking incentives + plans for 20-unit addition in rear
- Assumable loan balance of $1.4M and fixed interest rate of 3.24%
Résumé de l'annonce
5502-06 University Ave, also known as the Aztec Canyon Apartments, is a 10-unit multifamily asset located in central San Diego. The property encompasses approximately 5,875 rentable square feet on a generous 21,388 square foot lot, featuring over 15 on-site parking spaces. Originally built in 1950, the building offers a balanced unit mix of (1) 3BD/1BA, (3) 2BD/1BA, and (6) 1BD/1BA units.
All units have undergone renovations, including new windows, upgraded kitchens and baths, modern flooring, premium appliances, and in-unit A/C systems. Two of the units are designated as affordable housing.
Unit Mix:
• (1) 3 Bed / 1 Bath
• (3) 2 Bed / 1 Bath
• (6) 1 Bed / 1 Bath
The property also includes a fully operational laundry facility equipped with two washers and two dryers. Tenants are billed back for select utilities, providing operational efficiency. An income-generating billboard is located on-site, with the current lease having expired in January 2025—presenting a value-add opportunity through lease renewal and passive income potential.
A favorable financial component includes an assumable Chase loan with a fixed interest rate of 3.34%, maturing in March 2027.
Zoning & Development Potential:
5502 University Ave falls within the Complete Communities Housing Solution Plan, offering generous development entitlements such as a 6.5 FAR, no height restrictions, and relaxed parking requirements. The Community Plan designates the site for the following uses:
• Residential: 11–15 DU/AC
• Commercial/Mixed-Use: Up to 29 DU/AC, with bonus density up to 43 DU/AC where residential is allowed
Preliminary architectural plans have been drawn to potentially add twenty (20) additional 1BD/1BA units along with supplementary parking at the rear of the site. A slope study, soil report, and full topographical survey are available to support development efforts.
All units have undergone renovations, including new windows, upgraded kitchens and baths, modern flooring, premium appliances, and in-unit A/C systems. Two of the units are designated as affordable housing.
Unit Mix:
• (1) 3 Bed / 1 Bath
• (3) 2 Bed / 1 Bath
• (6) 1 Bed / 1 Bath
The property also includes a fully operational laundry facility equipped with two washers and two dryers. Tenants are billed back for select utilities, providing operational efficiency. An income-generating billboard is located on-site, with the current lease having expired in January 2025—presenting a value-add opportunity through lease renewal and passive income potential.
A favorable financial component includes an assumable Chase loan with a fixed interest rate of 3.34%, maturing in March 2027.
Zoning & Development Potential:
5502 University Ave falls within the Complete Communities Housing Solution Plan, offering generous development entitlements such as a 6.5 FAR, no height restrictions, and relaxed parking requirements. The Community Plan designates the site for the following uses:
• Residential: 11–15 DU/AC
• Commercial/Mixed-Use: Up to 29 DU/AC, with bonus density up to 43 DU/AC where residential is allowed
Preliminary architectural plans have been drawn to potentially add twenty (20) additional 1BD/1BA units along with supplementary parking at the rear of the site. A slope study, soil report, and full topographical survey are available to support development efforts.
Faits sur la propriété
Commodités
Commodités des unités
- Climatisation
- Laveuse/Sécheuse
- Ventilateurs de plafond
- Planchers de bois franc
- Porche
- Plancher de vinyle
Commodités du site
- Terrain clôturé
- Installations de lessive
- Transport en commun
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 1+1 | 6 | - | 550 |
| 2+1 | 3 | - | 600 |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Très pratique à pied (74)
Impôts fonciers
| Numéro de lot | 472-410-01 | Évaluation des bâtiments | 1 698 029 $ CAD |
| Évaluation du terrain | 2 023 184 $ CAD | Évaluation totale | 3 721 214 $ CAD |
Impôts fonciers
Numéro de lot
472-410-01
Évaluation du terrain
2 023 184 $ CAD
Évaluation des bâtiments
1 698 029 $ CAD
Évaluation totale
3 721 214 $ CAD
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10 Units + Development Central San Diego | 5502-5506 University Ave
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