SAN DIEGO, July 20, 2016 – ACI Apartments is pleased to announce the recent sale of a 5 unit complex in Pacific Beach, CA. The 2289 square foot building on a 6,180 square foot lot at 1466-1472.5 Diamond Street, was purchased by The Curtis and Barbra Jean Holder Trust of San Diego for $1,660,000.
The buyer was represented by Keith Courtney of ACI. Diane Daley-Eaton of Del Mar Realty Associates represented herself along with Bruce Eaton as the sellers.
Located within walking distance of Pacific Beach Middle School and Pacific Beach Community Park, this property offers a unique mix of four 1 bedroom / 1 bathroom units and one 2 bedroom / 1 bathroom unit. Dishwashers and greenhouse windows are available in two of the 1 bedroom spaces, while the rest have private patios. The complex, which was built in 1955, sold at $332,000 a unit with a GRM of 16.8 and a CAP rate of 3.8%.
About ACI Apartments INC.
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