ACI Commercial is pleased to announce the recent sale of a 5 unit apartment property in Escondido. The property, located at 702 East 7th Avenue in Old Escondido was purchased by the Elaine M. Clabaugh Trust.
The seller was represented by Berkshire Hathaway, and the buyer was represented by Norm Root of ACI Commercial. This transaction was the completion of a 1031 exchange for the buyer who sold her interest in a property in Little Italy and traded her equity for the property in Escondido. Norm Root also handled the sale of the Little Italy property. Escrow was handled by Pickford Escrow and title insurance was handled by Chicago Title company.
This investment property consisted of 3 – Two bedroom/ two bath units, 2 – Two bedroom/one bath units, 5 double garages and laundry. The property sits on top of a cul-de-sac with views of the valley.
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.