ACI Apartments is pleased to announce the recent sale of a 7-unit complex in the San Diego, CA neighborhood of Normal Heights. The 4,466 square foot property situated on a 5,485 square foot lot at 4558 40th Street, was sold by Ryan Ferreira for $1,660,000.
The seller was represented by Ricardo Lopez of ACI Apartments. According to Mr. Lopez, this well located and upgraded property had a lot of demand with offers from multiple potential buyers.
The property consists of a solid unit mix of (1) 2 bedroom, 1 ½ bath, (2) 2 bedroom 1 bath, and (4) 1 bedroom 1 bath units. Four units have been completely remodeled with new cabinetry, granite countertops, new fixtures, new flooring and new appliances. In addition, many on-site improvements have been made to the exterior of the property including a new roof, many new vinyl windows, and xeriscape landscaping.
All tenants are afforded their own parking space with 4 off-street spaces in the front of the property as well as 3 tuck-under spaces in the rear. With no properties sharing the opposite side of the street, many free spaces are available providing ample parking for the tenants and their guests. The buyer, WSC Investments Inc. was represented by Benn Vogelsang of South Coast Commercial.
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