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Investment Highlights
- Covered land play with income during entitlement and planning phase
- Located near Little Italy, one of San Diego’s premier urban neighborhoods
- Proximity to Downtown, Waterfront, and major transit infrastructure
- 119-unit SRO hotel with consistent in-place cash flow
- CCPD-RE zoning + CCHS Tier 1 overlay offering density and FAR incentives
Executive Summary
First + Beech at 1428–34 & 68 1st Avenue and 1445 Front Street presents a unique covered land play opportunity to acquire a 119-unit Single Room Occupancy (SRO) hotel in the heart of San Diego’s highly sought-after Little Italy neighborhood. The property offers stable in-place income from an operating SRO asset, coupled with meaningful long-term repositioning and redevelopment upside.
The property is zoned CCPD-RE with a CCHS Tier 1 overlay, providing enhanced development potential through increased density and FAR incentives. This positioning allows investors to capitalize on future redevelopment optionality, whether through adaptive reuse, density maximization, or a complete reimagining of the site.
The property is zoned CCPD-RE with a CCHS Tier 1 overlay, providing enhanced development potential through increased density and FAR incentives. This positioning allows investors to capitalize on future redevelopment optionality, whether through adaptive reuse, density maximization, or a complete reimagining of the site.
Property Facts
| Sale Type | Investment or Owner User | Individually For Sale | 0 |
| Status | Active | Total Building Size | 25,720 SF |
| Number of Properties | 5 | Total Land Area | 0.35 AC |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 25,720 SF |
| Total Land Area | 0.35 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Reiss Hotel
1428-1432 1st Ave, San Diego, CA 92101 |
Hospitality | 7,540 SF | 1912 | - |
| 1468 1st Ave, San Diego, CA 92101 | Multifamily | 10,980 SF | 2007 | - |
| 1445 Front St, San Diego, CA 92101 | Multifamily | 7,200 SF | 1913 | - |
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1st & Beech Downtown Collection
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