1525-1537 Union Street, San Diego, CA 92101
Local realty services provided by:Better Homes and Gardens Real Estate Napolitano & Associates
1525-1537 Union Street,San Diego, CA 92101
$3,100,000
- - Beds
- - Baths
- 2,304 sq. ft.
- Multi-family
- Active
Listed by: bill anderson
Office: acre investment real estate
MLS#:260009061
Source:San Diego MLS via CRMLS
Price summary
- Price:$3,100,000
- Price per sq. ft.:$1,345.49
About this home
The Union Street Bungalows offers a unique opportunity to acquire a fully renovated, historically designated 8-unit bungalow-style property in the core of Little Italy—one of San Diego’s most dynamic and high-demand urban neighborhoods. The asset is currently operated as a short-term rental property and is supported by a transferable Conditional Use Permit (CUP), a highly limited entitlement within the neighborhood. With new approvals no longer being issued in Little Italy, this designation represents a meaningful barrier to entry and a significant advantage over competing properties. In addition, the property is subject to a Mills Act contract, which provides a reduced property tax basis tied to its historic designation. This structure results in materially lower operating expenses compared to similar assets, improving overall investment performance. The property was thoughtfully revitalized under the direction of Jonathan Segal, and reflects a cohesive blend of architectural character and contemporary functionality. The eight detached studio residences are arranged in a bungalow-style layout that prioritizes privacy and individuality—an uncommon feature in downtown multifamily properties. The site’s configuration, with separate entrances and outdoor areas for each unit, supports a variety of operational approaches. Whether maintained as a short-term rental asset, repositioned toward furnished mid-term leasing, or operated as traditional multifamily housing, the property offers flexibility to adapt to evolving market conditions....
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Home facts
- Listing ID #:260009061
- Added:1 day(s) ago
- Updated:April 16, 2026 at 09:34 PM
Rooms and interior
- Living area:2,304 sq. ft.
Heating and cooling
- Cooling:Wall/Window
Structure and exterior
- Building area:2,304 sq. ft.
- Construction Materials:Stucco
- Levels:1 Story
Finances and disclosures
- Price:$3,100,000
- Price per sq. ft.:$1,345.49
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