3060 Suncrest Drive, Normal Heights, CA 92116

$7,480,000
List Price
$7,480,000
Status
ACTIVE
MLS#
210010470
Acres
0.69
Days on Market
26
Property Type
Commercial
Property Sub Type
Mixed Use

Property Description

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

Additional Information

Heat
See Remarks
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Exterior Construction
Other
Number Of Units Total
22
Gross Scheduled Income
$454,992
Operating Expense
199209

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Rita Lancaster-Hannah from Acre Investment Real Estate

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.