ACI Apartments is pleased to announce the recent sale of twenty units in the Ramona neighborhood of San Diego. The 16,576 square foot property situated on a 66,211 square foot lot located at 1528 Montecito Road was purchased by Adato Family Properties II LLC, of San Diego for $3,635,000.
The seller, Shadow Glen Annex LP, a California limited partnership, of San Diego, was represented by Terry Moore CCIM of ACI. Moore represented the seller when they purchased the property in 2016 and has an ownership interest. The buyer was represented by Eliel Guerrero of Millennium Financial & Realty.
The 1979 property consists of fourteen 2bd/2ba and six 1bd/1ba units, some with private balconies and fenced yards. There are 32 parking spaces. Sellers have upgraded many units on turnover. There is rent upside potential by making additional upgrades to the property.
ACI is the most successful income property brokerage firm in the county since 1982. They specialize in apartment and investment property transactions, and have 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. Please visit us online at www.aciapartments.com