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    3060 Suncrest Drive

    San Diego, CA 92116
    • $7,480,000
    • STATUS: PENDING
    • ON SITE: 26 days
    • ID#: 210010470
    Pending
    UPDATED: 61 min ago
    $7,480,000
    • 3
      BEDS
    • 0.69
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    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

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    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. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
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    3060 Suncrest Drive San Diego, CA 92116

    • Price: $7,480,000
    • Status: PENDING
    • Updated: 61 min ago
    • ID#: 210010470
    3
    Beds
    2
    Baths
    0
    ½ Baths
    0.69
    Acres
    Neighborhood:
    Normal Heights (92116)
    County:
    San Diego
    Area:
    Normal Heights (92116)
    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
    Exterior Features

    Carports 0 Construction Other/Remarks Parking Spaces Parking Spaces Total 22 Roof Other/Remarks Units With Garages 0

    Interior Features

    Cooling Wall/Window Floor Coverings VinylWall To Wall Carpet Floors Slab Heating Other/Remarks Laundry Owned Sq Ft Of Improvement 13236 Stories 2 Story Units With Dishwashers 22 Units With Disposals 22 Units With Drapes 22 Units With Ranges 22 Units With Refrigerators 22

    Property Features

    Actual Cap Rate 3.27 Actual Gross Operating Income 443862 Actual Gross Scheduled Income 454992.0 Actual Operating Expense 199209 Actual Vacancy And Credit Loss 13649 Assumable Finance 0 Buildings 3 Complex Features BbqOther/Remarks Existing Financing Conventional Financial Information Source Owner Gross Equity 3740000 Gross Multiplier 16.44 Have 22 Units Mandatory Remarks None Known Market Area Metro Uptown Motive Want Exchange Other Income Actual 2520 Projected Cap Rate 4.34 Projected Gross Multiplier 14.44 Projected Gross Operating Inc 513432 Projected Gross Scheduled Inc 519600 Projected Net Income 324593 Projected Operating Expense 188839 Projected Other Income 9420 Projected Vacancy And Credit Loss 15588 Special Rent Control Sq Ft Source Buyer To Verify Tenant Pays Electric Y Tenant Pays Gas Y Terms Cash To New Loan Unit Number1 12 Unit Number2 10 Unit Rent1 1568 Unit Rent2 1910 Unit Type Condo

    Listing provided courtesy of Acre Investment Real Estate. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
    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. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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