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1425 Lincoln Ave & 3972-3986 Cleveland AveSan Diego, CA 92103
Hillcrest Crossing
Asset ClassLand, Multifamily, Retail
# Units161
# Stories: 8Retail SF: 2,182Square Feet: 88,977Access Data Room
Prime Residential Development Opportunity With By-Right Zoning
overview of deal

Overview

Hillcrest Crossing is an 8-story, 88,977 SF (0.43 Acre) By-Right development opportunity with 161 dwelling units ranging from studio to two-bedroom, and 2,182 SF of retail space. Once built, Hillcrest Crossing will include 141 parking spaces and will boast luxury amenities, which will be competitive with other Class A properties in the submarket.

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Investment Highlights

# Stories
8
# Units
161
Square Feet
88,977
Land
0.43 Acres
Retail SF
2,182
Parking Spaces
141 Spaces

The property is located just west of University Avenue in a Transit Priority Area. Various amenities are within walking distance or a short drive away such as Balboa Park and numerous restaurants and breweries. The market of Hillcrest has seen very little institutionally sized projects due to shortage of contiguous parcels. In addition, home values in the area prevent land acquisition and assemblage from being economical. These factors will continue to constrain market rate apartment development and give the subject a strategic advantage in unique market positioning.

 

Hillcrest caters to a lifestyle for young professionals and newly forming families looking for highly walkability amenities and excellent access.

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1425 Lincoln Ave & 3972-3986 Cleveland AveSan Diego, CA 92103
Balboa Park
San Diego Zoo
Downtown San Diego
San Diego Bay
Beaches

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Listing provided by Revere CRE