8 Unit Vista Multifamily Property Sold for $1,600,000

SAN DIEGO, 1/10/2017

ACI Apartments is pleased to announce the recent sale of an 8 unit Vista multifamily property sold for $1,600,000. The two contiguous, identical four-plexes have a combined square footage of 8,508 on two parcels that total of 25,735 square feet.

323 & 325 Amber Lane were purchased by Brent and Victoria Bonine. The sellers were Robert and Nancy Franz, both sides of the transaction were represented by Brian Raynoha of ACI.

The properties, built in 1976, have a mix of two large 3 bedroom  2 bath town home style  “owner units”  and six 2 bedroom units. The owner units have washer and dryers, fireplaces and vaulted ceilings. The price per square foot was calculated at $188 with a price per unit of $200,000. The property Cap rate was 2.81% while GRM was 16.58.

 

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