ACI Apartments is pleased to announce the recent sale of a 49-unit complex in El Centro, California. The 38,600 square foot property situated on a 68,389 square foot lot at 480 Aurora Drive in what is known as the “Aurora Apartments”, was purchased by Kenwood LLC for $3,920,000.
The buyer was represented by Ricardo Lopez of ACI Apartments. The seller, El Centro Property LLC was represented by Peter Hauser of Avison Young.
The unique location has a robust unit mix of (1) Studio, (6) 1br-1ba, (22) 2br-1ba, (17) 3br-2ba, (3) 4br-2ba. In addition, the location has 75 open parking spaces as well as to abundant street parking.
Built in 1971, The Aurora Apartments has one swimming pool and one laundry facility onsite. A portion of the interiors have been fully and partially upgraded. The property consists of one garden-style apartment building.
The property has an interior grass courtyard area and a portion of the apartments have patios or balconies. Also, the utilities are separately metered. The property is conveniently located within a short distance from several retail spaces, restaurants, and entertainment venues.
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