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1620 Union St - Union Tower 0.12 Acres of Residential Land Offered at $2,924,452 CAD in San Diego, CA 92101
EXECUTIVE SUMMARY
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. The property is currently improved as a surface parking lot. The current owner has a month-to-month lease agreement with LAZ parking. 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 compromised 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 and 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 County Center/Little Italy Trolley Station, and the County Administration Center and Waterfront Park.
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 and 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 County Center/Little Italy Trolley Station, and the County Administration Center and Waterfront Park.
PROPERTY FACTS
| Price | $2,924,452 CAD | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.12 AC |
| Property Type | Land |
| Price | $2,924,452 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.12 AC |
1 LOT AVAILABLE
Lot
| Price | $2,924,452 CAD | Lot Size | 0.12 AC |
| Price Per AC | $24,370,437.33 CAD |
| Price | $2,924,452 CAD |
| Price Per AC | $24,370,437.33 CAD |
| Lot Size | 0.12 AC |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Excellent Transit (79)
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1620 Union St - Union Tower
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