5502 University Ave San Diego, CA 92105
Property profile & analytics
5502 University Ave San Diego, CA 92105
- Apartment buildings
- 5,875 SF
- 0.49 lot acres
Property ID
US09-8216858
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 5502 University Ave
- Year built
- 1950
- Lot size
- 0.49 lot acres
- Property size
- 5,875 SF
- Zone code
- COMMERCIAL
- Property type
- Apartment buildings
- APN
- 472-410-01-00
- APU
- 4724100100
Description
This exceptional redevelopment opportunity presents a 10-unit apartment complex in San Diego, CA. Located at 5502 University Ave, 92105, this property boasts 5,866 rentable square feet on a substantial 21,344 square foot lot. The existing building, constructed in 1950 and featuring two stories, comprises a mix of one 3-bedroom/1-bathroom unit, three 2-bedroom/1-bathroom units, and six 1-bedroom/1-bathroom units. All units have undergone complete renovations, including new windows, interiors, kitchens, vanities, high-end appliances, AC units, and vinyl flooring. Two units are designated as affordable housing. The property includes an on-site laundry facility with two washers and two dryers; tenants are billed for some utilities. Seventeen parking spaces are available, supplemented by a revenue-generating billboard (contract renewal in January 2025). An assumable Chase loan is available, fixed at 3.34% and maturing in March 2027, with a balance of $1,449,000. Approved plans exist for a significant expansion, adding twenty 1-bedroom/1-bathroom units and additional parking. Supporting documentation includes a soil report, slope study, and full topographic survey. The property's location within the Complete Communities Housing Plan allows for a 6.5 FAR with parking relaxation incentives and no height restrictions. The area offers high pedestrian activity and convenient access to major highways, beaches, business districts, downtown, and Mexico. The current NOI is $139,221, with a pro-forma NOI of $428,636, reflecting a 4.28% cap rate and a pro-forma cap rate of 13.19%. The asking price is $3,250,000. Please respect tenant privacy and refrain from trespassing.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,950,000
- ML approach
- $1,965,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,830,000
- 6.5%
- $1,690,000
- 7%
- $1,570,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,014,000
Market price range: $585k - $2.01M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,400,000 Current use
- RETAIL STORES
- $2,725,000 Change: +94% Conversion: Difficult
- OFFICE BUILDING
- $2,480,000 Change: +77% Conversion: Moderate
- INDUSTRIAL (GENERAL)
- $2,360,000 Change: +68% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.077
- Latitude
- 32.7485
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$32,958
$1,456,560
$1,222,470
$2,679,030
-
$0.00
$0.00
$0.00
