SENTRE Acquires Historic Sherman Heights Apartment Community
April 13, 2016
San Diego, CA 92102 – San Diego based SENTRE, dba Sterling Sherman Heights, LLC., has acquired a 27 unit, Colonial Revival style apartment building in the historically designated Sherman Heights neighborhood of San Diego. Built in 1908 and situated just a few blocks from East Village at the corner of 20th Street and Island Avenue, the property will be renamed The Sterling, in acknowledgement of the original architect William “Sterling” Hebbard.
The purchase reflects SENTRE’s sixth multi-family acquisition in the past 5 years, and second in the downtown San Diego area, under the “SENTRE LIVING URBAN” brand. In 2014, SENTRE acquired the 90-unit The Barcelona in Bankers Hill, which is currently undergoing a comprehensive renovation of both unit interiors and amenity spaces.
The Sterling, located at 470 20th Street, was formerly known as Sophie’s Arms, and was purchased for $5,300,000, or $196,000 per unit.