6499 Montezuma Rd , San Diego, CA 92115

Five-parcel assemblage totaling ±0.71 acres in San Diego’s College Area, currently in process for RM-4-10 zoning, allowing ~78 units by right. The properties generate over $40,000 per month in in-place income, providing strong carry during entitlement and pre-development. Density bonus pathways offer significant upside, including up to ~102 units under HAP 2.0 or up to ~155 units with a 100% micro-unit program. Existing residential improvements support near-term cash flow with long-term redevelopment potential. Priced at $9M (~$287/SF land), competitive for the submarket given scale, zoning upside, and proximity to SDSU’s 40,000+ student population. Well-suited for multifamily or student-oriented housing. OM and Zoning Plan are available in the Documents section.