ACI Apartments is pleased to announce the recent sale of a 4-unit complex in the City Heights neighborhood of San Diego. The 2,328 square foot property situated on a 6,207 square foot lot located at 4018-4024 Menlo Avenue was purchased by The Rachel L. Chasin Family Trust of San Diego for $780,000.
The buyer was represented by Terry Moore CCIM of ACI Apartments, as part of a 1031 tax deferred exchange. The seller, also from San Diego, Sheryl Stiles was represented by Anni Grimes of Coldwell Banker Commercial.
The 1940 property consists of three 1bd/1ba cottages and a 2bd/1ba unit above the garages. There are four garages at the rear of the property. There is significant rent upside potential by making upgrades to the property and/or adding onsite laundry.
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