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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.

Property Facts

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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  • Listing ID: 40093318

  • Date on Market: 4/9/2026

  • Last Updated:

  • Address: 1st & Beech Downtown Collection, San Diego, CA

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