17 Units in Golden Hill Sold for $5,125,000

Below is a press release from October 20, 2015:

ACI Apartments is pleased to announce the recent sale of a 17 unit complex in Golden Hill. The 22,500 square foot property, located at 2331 E Street, was purchased by John G. Barthell for $5,125,000.

The seller, The Abernathy Investment Partnership, was represented by Terry Taylor of ACI Apartments, and the buyer was represented by Rita L. Hannah of ACRE Investment Real Estate. The Buyer obtained a new loan through Opus Bank for $3,354,000. Escrow was handled by Teresa McElaney of Chicago Title. Dennis Alviso of Chicago Title handled the title insurance.

This investment property is located in Golden Hill. Built in 1926, this pride of ownership complex consists of one 2 Bedroom/2 Bath Penthouse and 16-1 Bedroom/1 Bath Units. The property is an iconic one of a kind property with incredible views from nearly every unit. The Penthouse is 2,600 square feet with 800 square feet of outdoor patio area and enjoys 360 degree views of Downtown San Diego, the Bay and Ocean Views.

ACI is the most successful income property brokerage firm in the county. Since 1982, they have specialized in apartment and investment property transactions, and maintained a solid performance despite changing economic cycles. With an average of more than 140 closed escrows per year, ACI has closed more San Diego County income property escrows than any other firm in the county – that’s more properties than the number two and number three firms combined.