This paper describes an in-depth soil characterization study in the La Carolina financial district of Quito (Ecuador). As there was very little information available on the geotechnical structure of Quito’s volcanic soil, particularly in this area, where large-scale property development has taken place, the aim was to provide information on soil parameters to engineers working on large geotechnical and civil engineering projects based on the results of a thorough and comprehensive study of such properties. A series of field tests were performed at three different sites, where thin-walled tube samples were collected for lab testing to estimate the index properties and mechanical parameters. These index properties were then combined with conventional two-way drainage oedometer tests and stress-path triaxial testing to evaluate compressibility, stiffness and strength. The subsoil was found to be partly composed of slightly overconsolidated volcanic soils. X-ray Diffraction (XRD) and Scanning Electron Microscopy (SEM) analyses were also conducted to determine mineralogical and microstructural features and evaluate their influence on the mechanical behavior of the volcanic soil. This type of research is frequently applied to the study of landslides in urban environments, where it is essential to understand their failure mechanisms, especially in slopes generated by the construction of important engineering works. Therefore, based on this geotechnical characterization study, parameters were subsequently determined for the Mohr–Coulomb (MC), Hardening Soil (HS), and Hardening Soil with Small-Strain Stiffness (HSsmall) soil constitutive models, and these were applied to a numerical study of the Soil Nailing system behavior for the construction of a five-level underground car parking structure of an important building located in the north-central sector of the city of Quito. It was verified that the HSsmall and HS constitutive soil models better reproduce the behavior of this type of structure. Finally, the multiple geotechnical parameters determined in this study significantly contribute to the analysis of these structures in this soil type.