ACI Apartments is pleased to announce the recent sale of a 39-unit complex in the Escondido neighborhood of San Diego. The 37,544 square foot property situated on a 114,563 square foot lot located at 1440 N. Broadway was sold by Ross Apartment Company VI LP, of San Diego for $9,460,000.
The seller was represented by Terry Moore CCIM of ACI. Moore has represented the Seller/Estate on multiple transactions and owned a percentage of the property as well. The buyer, also from San Diego, Kenwood LLC was represented by Jeff St. Thomas of HomeSmart Realty West.
The 1978 property consists of twenty-eight 2bd/1.5ba and eleven 2bd/1.75ba units. The community room was converted more than twenty years ago into a non-permitted 3bd/1.5ba unit. There are eighteen garages, forty carports and thirty-three open parking spaces. Residents also enjoy a sparkling swimming pool.
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