ACI Apartments is pleased to announce the recent sale of a 6 unit multifamily property in North Park, a neighborhood in San Diego, California. The approximately 4,521 square foot property on an approximately 7,015 square foot lot at 4040-46 Hamilton Street, was sold by the Julio A. Arroyo Trust for $1,530,000.
The seller was represented by Norm Root of ACI, and the buyers, Devon Logan and William Logan were represented by Chuck Hoffman also from Apartment Consultants, Inc. (ACI).
The property is located in the trendy neighborhood of North Park and consists of two structures. The front home was built in 1927 and has been designated a local historic landmark. The unit mix of the property includes the aforementioned historic house which consists of 4 bedrooms and 2 bathrooms along with four 1 bedroom / 1 bathroom units and 1 non-conforming, efficiency unit. The funds for this purchase came from the sale of a property located at 4269 50th Street as part of a 1031 tax deferred exchange.
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