Hillcrest Apartment Complex Attains New Owner for $2.7M

Marcus & Millichap has orchestrated the $2.7 million sale of 3801 Centre Street, a seven-unit apartment property in the Hillcrest neighborhood of San Diego. The firm’s Austin Ray Huffman, vice president investments, procured the buyer, South Coast Equity Partners, LLC. The seller, Krewsun Family Trust, was represented by Glenn Bennett from Cowles Mountain Realty.

According to Marcus & Millichap, the new owner will have the opportunity to transform the building to accommodate the lifestyles of all residents. It is situated in an area that provides great walkability to bars, coffeeshops and restaurants.

The property is comprised of 6 one-bedroom units and 1 two-bedroom residence. It features upgraded systems and newer windows, but the property had low in-place rents overall. The Centre Street location provides easy access to the Highway 163 Freeway, and is just north of the San Diego Zoo.