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1537 Union St
San Diego, CA 92101 Little Italy

$3,995,000 USD

Apartments For Sale • 2,120 SF

Property Details

Property Type Apartments
Total Building Size 2,304 SF
Lot Size 0.11 AC
Building Class B
Year Built 1926
Cap Rate 10.64 %
Zoning S

81 Transit Score

98 Walk Score

                
                    Highlights
                
                                Proven Successful Short-Term Rentals Property, Year-Round Demand
                            
                                Special Short-Term Rental Permission Through Historical Designation & Conditional Use Permit (Short-Term Eligibility is Uncommon For Area)
                            
                                Mills Act Contract In Place for Substantial Tax Savings
                            
                                Walkable Distance to Little Italy and Quick Access to Gaslamp Quarter, Harbor, Marina, Downtown Waterfront Embarcadero, Major Freeways & Airport
                            
                                8 Studio Bungalows Each w/ Their Own Full Kitchen, Bathroom, Closet & Patio Space, Community Laundry, All Beautifully Restored by Jonathan Segal, FAIA
                            
                                Fully Gated, All 8 Units The Same, Two Units in One End Building (8 Units, 7 Buildings Total)

Financial Summary (Actual)

Net Operating Income: $424,979 USD (2024)

Cap Rate:	10.64 %
Total Expenses:	$75,000 USD

Amenities

Air Conditioning
Cable Ready
Controlled Access
Courtyard
Fenced Lot
Laundry Facilities
Microwave
Washer/Dryer
Gated
Heating
Furnished Units Available
Gas Range
Tile Floors
Kitchen
Hardwood Floors
Refrigerator
Oven
Stainless Steel Appliances
Range
Tub/Shower
Breakfast Nook
Freezer
Patio
Warming Drawer
Window Coverings
Individual Locking Bedrooms
Smoke Detector

Public Transportation

Commuter Rail	Drive	Walk	Distance
San Diego (Santa Fe Depot) (Coaster - San Diego North County Transit District (Coaster/Sprinter/Breeze))	2 min	10 min	0.5 mi
Old Town Transit Center (Coaster - San Diego North County Transit District (Coaster/Sprinter/Breeze))	6 min	-	3.6 mi
Transit/Subway	Drive	Walk	Distance
County Center/Little Italy (Blue Line - San Diego Metropolitan Transit System Trolley (San Diego Trolley))	1 min	6 min	0.3 mi
Santa Fe Depot (Blue Line - San Diego Metropolitan Transit System Trolley (San Diego Trolley))	1 min	9 min	0.5 mi
Civic Center (Blue Line - San Diego Metropolitan Transit System Trolley (San Diego Trolley), Orange Line - San Diego Metropolitan Transit System Trolley (San Diego Trolley))	2 min	10 min	0.5 mi
America Plaza (Blue Line - San Diego Metropolitan Transit System Trolley (San Diego Trolley), Orange Line - San Diego Metropolitan Transit System Trolley (San Diego Trolley))	2 min	10 min	0.5 mi
San Diego (Santa Fe Depot) (Coaster - San Diego North County Transit District (Coaster/Sprinter/Breeze))	2 min	10 min	0.5 mi
Airport	Drive	Walk	Distance
San Diego International	5 min	-	2.3 mi

Tim Van Damm 858-699-6644 Berkshire Hathaway Homeservice

1537 Union St San Diego, CA 92101 Little Italy