6497 99 Montezuma Rd, San Diego, CA 92115

About this property

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.

Listing description from the June 2026 sale, as reported to CRMLS.

Sale history

$1,200,000

Sold June 2026 · listed $1,199,000, on market March 2026 · MLS #260007270SD · Source: CRMLS

Listing Agent: Daniel Sipher · Listing Office: Landmark Multifamily and Development · Contact: 408-368-5225 · Bought with: Kyle Taylor · Discovery Property Group Inc

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