2336 Union Street

San Diego, CA 92101

We are pleased to present an exceptional opportunity to acquire a well-maintained, six-unit apartment community strategically located along the highly desirable border of Little Italy and Bankers Hill. Originally constructed in 1937, this three-story property combines timeless architectural character, stable in-place income, and an irreplaceable urban location in one of San Diego’s most sought-after rental markets. The property features a desirable unit mix of four (4) spacious two-bedroom/one-bathroom residences averaging approximately 900 square feet and two (2) one-bedroom/one-bathroom residences averaging approximately 604 square feet. Three units have undergone interior renovations featuring updated kitchens, modern appliances, and upgraded finishes. Select residences also offer walk-in closets and sweeping views of San Diego Bay, Downtown San Diego, and Point Loma. Thoughtful capital improvements include dual-pane windows, newer appliances, updated interior finishes, and a premium Sully Jones roof with an existing warranty. Residents enjoy convenient on-site laundry facilities and a beautifully landscaped communal backyard, providing valuable outdoor space within this highly urbanized setting. Ideally positioned just blocks from Little Italy’s acclaimed restaurants, cafés, shopping, and entertainment, the property offers convenient access to Balboa Park, UC San Diego Health, Scripps Mercy Hospital, and California Western School of Law. Its proximity to Downtown San Diego, San Diego International Airport, and major transportation corridors further enhances its appeal t A defining investment highlight of the offering is the inclusion of newly completed ready-to-issue (RTI) plans for four additional luxury townhome residences, creating a compelling opportunity to expand the existing sixunit community into a potential ten-unit residential asset. The proposed development consists of two three-story duplex buildings situated at the rear of the property, comprising four luxury townhomes totaling approximately 4,426 square feet. Each residence is envisioned to average approximately 1,100 square feet, incorporating contemporary architectural design and high-end finishes intended to complement the property’s premier urban setting. Upon completion, the proposed development would increase the property’s residential unit count from six to ten, representing a significant expansion of the existing rental community. The additional residences offer the potential to generate new rental income, enhance overall asset performance, and create meaningful long-term value. The property’s location along the Little Italy and Bankers Hill border further strengthens the development opportunity. With convenient access to Downtown San Diego, major employment centers, renowned dining destinations, and cultural amenities, the proposed townhomes would benefit from the same desirable urban lifestyle and central connectivity that support demand for the existing residences. Combining a predominantly stabilized six-unit income-producing property with RTI plans for four additional luxury residences, the offering presents a distinctive opportunity to pursue substantial development upside while maintaining an established multifamily investment in one of San Diego’s most desirable neighborhoods. Offering & Due Diligence Notes: Property tours available with an accepted offer only. Proof of funds and lender DU approval required, as applicable. Buyers to independently verify all development plans, permits, approvals, and property information.

Listed by Conor M Brennan of Conor Brennan, Broker (720) 841-8139



This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Copyright © 2026 San Diego MLS®.

Last checked 2026