7-Unit Garden Style Complex in Normal Heights Sold for $2,575,000

SAN DIEGO, December 16, 2021

ACI Apartments is pleased to announce the recent sale of a 7-unit complex in the San Diego neighborhood of Normal Heights. The estimated 4,900 square foot property situated on a 6,252 square foot lot at 4775 Wilson Ave, was sold by Mincks Family Trust 08-08-00, of San Diego, CA for $2,575,000.

The seller was represented by Chris Siedenburg of ACI Apartments. The buyer, 4775 Wilson LLC, a California limited liability company, also of San Diego, CA., was represented by Eric von Bluecher of Lee & Associates.

“This transaction is just another step in the growth of our clients Real Estate portfolio” explains Siedenburg, “as part of a 1031 Exchange, which allows the capital gain tax impact to be deferred, the proceeds from this sale will be used to acquire other Real Estate assets, which will significantly increase the overall portfolio value for our client.”

The property consists of six (6) 1 Bedroom/1 Bathroom units along with one (1) 2 Bedroom/ 1 Bathroom unit. 11 off-street parking spaces, including 4 tuck-under carport’s, provides for plenty of parking for the tenants. There are in-unit washers and dryers in most units, along with A/C. The surrounding area in this Normal Heights neighborhood has a walkscore of 93, which allows tenants to experience all that Normal Heights has to offer without even getting in their car. Transaction coordination was provided by Harold Venegas of “The TC House”. Chicago Title’s Teresa McElaney provided escrow services, while Debby Boyd of Fidelity National Title provided Title Insurance.

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