CA > San Diego
San Diego, CA 92101,1620 Union Street #1
San Diego, CA 92101,1620 Union Street #1
San Diego, CA 92101,1620 Union Street #1
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$2,490,000
Est. payment /mo
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5,013 Sqft Lot
Price Dropped by $1.5M

1620 Union Street #1 San Diego, CA 92101

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Richard Combs

Richard Combs

+1(619) 838-9307

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Key Details

Property Type Vacant Land

Sub Type Lots/Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 240028345

HOA Y/N No

Lot Size 5,013 Sqft

Acres 0.12

Property Sub-Type Lots/Land

Property Description

MAJOR PRICE REDUCTION! Motivated Seller! The subject property is a 5,013 square foot site located at 1620 Union Street in the heart of Little Italy, currently improved as a surface parking lot. The owner has a month-to-month lease agreement with LAZ parking (terms of the agreement can be found on page 11 of the OM). Designed by Jonathan Segal FAIA Design, the offering includes a Site Development Permit for an Air Rights Tower to construct a 24-story, 250-foot tall residential development, totaling approximately 109,546 SF and comprised of 73 residential dwelling units and 70 parking spaces within a fully-automated mechanical parking garage. At the time of approval, the project was improved with a historical, single family home, which was to be relocated to 2462-2648 Newton Avenue. The home was relocated in September 2023, thereby satisfying the condition and vesting the permit. The timeline for pulling a building permit is generally indefinite and the entitlements have no expiration date. Union Tower is located in the heart of Little Italy, an urban community collecting some of the highest rents in all of San Diego County. Little Italy's resident base is predominantly comprised of affluent and educated residents. Little Italy is booming with award winning restaurants, trendy bars & nightlife, Italian inspired coffee and gelato shops, and more. With an impressive walk score of 99, many Downtown amenities are located within walking distance of the site, including Amici Park, the India Street commercial corridor, the Little Italy Trolley Station, and the Waterfront Park.

Location

State CA

County San Diego

Area San Diego Downtown (92101)

Zoning CCPD-Res

Exterior

Fence Partial

View City, Ocean, Panoramic

Utilities Available Below Ground

Building

Lot Size Range 4000-7499 SF

Water Available

Others

Acceptable Financing Other/Remarks

Listing Terms Other/Remarks

Virtual Tour https://www.propertypanorama.com/instaview/snd/240028345

San Diego Regional MLS (SDMLS)
Listed by Eric D Comer • Eric D. Comer, Broker

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agent

Richard Combs

Broker | License ID: 01526804

+1(619) 838-9307

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1620 Union Street #1

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