ACI Apartments is pleased to announce the recent sale of a 5-unit apartment property in the San Diego neighborhood of North Park. The 3,395 square foot property situated on a 6,237 square foot lot at 3734-38.5 Villa Terrace, was sold by Kennedy Trust for $1,650,000.
The seller was represented by Norm Root of ACI. The buyer, The Richmond 25, LLC, an Alabama limited liability company was represented by Chuck Hoffman and Tiffany Hoffman also of ACI.
Situated in the heart of North Park, 3734-38.5 Villa Terrace consists of one 2-bedroom 1-bathroom front house with attached garage and separately owned washer and dryer, one 2-bedroom 1-bathroom apartment, two 1-bedroom 1-bathroom units set into an up-and-down duplex, and one 1-bedroom 1- bathroom house set along the alley.
On-site features include a separate laundry room with owned washer and dryer, along with a quiet, common area. The property is located 3 blocks from Morley Field in Balboa Park.
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