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… Read More / 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. Read Less
Listing Snapshot
Days Online
68
Last Updated
Property Type
Mixed Use
Lot Size
0.49 Acres
MLS Number
240026674SD
30 Days Snapshot Of 92105
$555k
-13%
(avg) sold price
3
-87%
homes sold
87
+26%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
2 buildings
Expenses
Operating expense: $101,236
Income
Net operating income: $139,221
Lot
0.49 acres, 21,344 square feet, Size: 21,344
Parking
17 totals parking
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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