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3060 Suncrest Drive, San Diego, CA 92116

Commercial property · 2 recorded sales since 2015

3060 Suncrest Drive, San Diego, CA 92116 Sold August 2021 CRMLS
$7,350,000Sold August 2021

Listing Agent: Rita Lancaster-Hannah (DRE #01221317) · Listing Office: Acre Investment Real Estate · Contact: 760-944-9110 · Bought with: SOCAL Unknown Agent · San Diego · MLS #210010470 · Source: CRMLS

22
Units
3.27%
Cap Rate
$244,653
NOI
30,056 sqft
Lot Size
Commercial property
Type

About this commercial property

I am pleased to present the opportunity to acquire Suncrest Condominiums, a 22 condominium rental community located in San Diego. The property was completely re-furbished and converted to a recorded condominium project in 2009. The renovations include electrical, plumbing, sewer, roofs, water heaters, exterior stucco, interior and exterior paint, travertine tile, wood laminated and/or upscale carpeting flooring, crown molding, kitchen cabinetry, countertops and sinks, non-slip balcony decking, new dual pane vinyl windows, interior and exterior lighting fixtures, drought tolerant landscaping and much more. The property consists of three detached, two story buildings. The unit mix is comprised of 12 one-bedroom/one bath units and 10 two-bedroom/one bath units. Interior amenities include washers and dryers in all units, air condition and heat, full equipped kitchens with stainless steel appliances, mirrored closet doors, crown molding , modern flooring, patios * and balconies *. Community amenities included additional storage, barbecue, gated pet park, secured building and gated parking. Suncrest condominiums are located in the culturally diverse North Park submarket of San Diego just north of Adams Avenue “Antique Row” and west of the 805 freeway. Situated in the heart of this revitalized pedestrian friendly community Suncrest offers convenient access to schools, hospitals, major employment centers, entertainment, dinning, shopping, cultural venues, transportation and highways. See supplement ACRE Investment Real Estate Services is pleased to present the opportunity to acquire Suncrest Condominiums, a 22 condominium rental community located in San Diego. The property was completely re-furbished and converted to a recorded condominium project in 2009. The renovations include electrical, plumbing, sewer, roofs, water heaters, exterior stucco, interior and exterior paint, travertine tile, wood laminated and/or upscale carpeting flooring, crown molding, kitchen cabinetry, countertops and sinks, non-slip balcony decking, new dual pane vinyl windows, interior and exterior lighting fixtures, drought tolerant landscaping and much more. The property consists of three detached, two story buildings. The unit mix is comprised of 12 one-bedroom/one bath units and 10 two-bedroom/one bath units. Interior amenities include washers and dryers in all units, air condition and heat, full equipped kitchens with stainless steel appliances, mirrored closet doors, crown molding , modern flooring, patios * and balconies *. Community amenities included additional storage, barbecue, gated pet park, secured building and gated parking. Suncrest condominiums are located in the culturally diverse North Park submarket of San Diego just north of Adams Avenue “Antique Row” and west of the 805 freeway. Situated in the heart of this revitalized pedestrian friendly community Suncrest offers convenient access to schools, hospitals, major employment centers, entertainment, dinning, shopping, cultural venues, transportation and highways. Although the property has been operated as a rental property since its completion, having a final condominium map recorded offers the potential future exit strategy of selling individual units as condominium homes in a market that has limited new home supply. *not available in all units Amenities: BBQ

Listing description from the August 2021 sale, as reported to CRMLS.

Sale history

$7,350,000
Sold August 2021 · listed $7,480,000, on market April 2021 · MLS #210010470 · Source: CRMLS
Listing Agent: Rita Lancaster-Hannah · Listing Office: Acre Investment Real Estate · Contact: 760-944-9110 · Bought with: SOCAL Unknown Agent · San Diego
$5,610,000
Sold August 2015 · listed $5,830,000, on market June 2015 · MLS #150030578 · Source: CRMLS
Listing Agent: Rita Lancaster-Hannah · Listing Office: Acre Investment Real Estate · Contact: 760-944-9110 · Bought with: Rita Lancaster-Hannah · Acre Investment Real Estate
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