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9/03/19
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A 16-unit complex in the Hillcrest neighborhood of San Diego sold for $4 mil, or $250k/unit. The 8.8k sf property is situated on an 11.2k sf lot at 3102-08 1st Ave.
The property’s unit mix consists of one three-bedroom/two-bath apartment, one two-bedroom/one-bath apartment, four one-bedroom/one-bath apartments and 10 studio units, along with one garage. Most of the units enjoy nice views of the canyon and several units have large balconies.
Located in Banker’s Hill, the asset is within close proximity of Balboa Park. It is a short drive or bike ride from Downtown San Diego, as offers easy access to the I-5 and 163 freeways.
Terry Taylor of ACI Apartments represented the seller, 3102 First Avenue LLC. The buyer, 2201 Willow Creek LLC, was repped by Jeremiah Taylor from South Coast Commercial.
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