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5/10/18
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A 1031 exchange investor paid $12.6 mil for Crestview Apartments, a 30-unit ($420k/unit) multifamily complex in San Bruno. The property sits on two parcels at 2201-2221 Princeton Drive.
Crestview Apartments has a mix of 25 one-bed/one-bath units and five two-bed/one-bath units, all with spacious balconies and views of the bay. The complex is just moments away from YouTube San Bruno, Walmart eCommerce, West of Highway 280, Bayhill Shopping Center, and San Francisco International Airport.
Brian Henry, Justin Bautista, and Steve Zirelli of ARA, A Newmark Company, represented the buyer and the seller, the property’s original owner, in the off-market transaction.
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