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6497 Montezuma RdSan Diego, CA 92115

For Sale

$1,199,000

Smart Buyer Rebate $11,990

2-unit investment property in San Diego's College Area, offered with a master lease at $7,000/month covering both units. Steps from SDSU's 40,000+ student population, this is a turnkey opportunity in one of San Diego's highest-demand student housing submarkets. The main house delivers 4 beds/3 baths and the studio adds 1 bath — 1,822 SF total on a 4,300 SF lot. Currently in process for RM-4-10 zoning, the site offers meaningful long-term redevelopment potential. Density bonus pathways — including HAP 2.0 and 100% micro-unit programs — provide significant upside for a buyer with a development horizon. Sustained enrollment at SDSU drives consistent rental demand, supporting both near-term cash flow and future student-oriented or multifamily housing development. Strong in-place cash flow with entitlement upside. All zoning, development potential, and unit counts to be verified by buyer.

Listed by Daniel Sipher

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License #02043589

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Landmark Multifamily and Development

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408-368-5225

Last updated March 31, 2026

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Source: CRMLS #260007270SD

Listing Facts

  • TypeMulti-family
  • NeighborhoodCollege East
  • Days on Prevu36

Amenities

  • Parking

Location

Mortgage Calculator

Listing History

03/27/2026
Listed by Landmark Multifamily and Development
$1,199,000

Property Details for 6497 Montezuma Rd

Exterior

Construction

  • Number Of Units Total: 2
  • Stories: 2
  • Stories Total: 2
  • Year Built: 1984

Measurements

  • Lot Size Source: Assessor

Financial

Residential Income

  • Cap Rate: 5.25

Taxes

  • Parcel Number: 4672220800

Other

Location

  • Subdivision Name: San Diego

Utilities

Equipment

  • Cooling: See Remarks
  • Has Cooling: Yes
  • Has Heating: Yes

Frequently Asked Questions

How many bedrooms does this multi-family home have?

There is bedrooms in this multi-family home at 6497 Montezuma Rd.

How does 6497 Montezuma Rd compare to other multi-family homes in College East?

This multi-family home is listed 26% below the average price for multi-family homes in College East and has been on the market for 4 more days than the typical home in this area.

6497 Montezuma Rd is a -bedroom multi-family home for sale in San Diego CA 92115. On Prevu for 36 days at $1,199,000. This residence is located in College East. The median listing price for multi-family homes in this area is $755,000. The home offers parking. View other multi-family home listings in San Diego.

Based on information from California Regional Multiple Listing Service, Inc. 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 Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.