SAN DIEGO, February 29, 2016 – ACI Apartments is pleased to announce the recent sale of a 5 unit complex in Escondido, CA. The 5,202 square foot property, located at 238-246 East 15th Street was purchased by Kebrek, LLC of San Juan Capistrano for $900,000.
Anton Burman of ACI represented the buyer. The seller, Torrey Pines based real estate firm Westview 15th Ave was represented by Rob Perkins of Westview Realty, Inc.
The apartment consists of three large 2 Bedroom/1.5 Bath and two spacious 2 Bedroom/1 Bath units with off street parking consisting of three single
and two double garages. The property also offers tenants washer and dryer hookups and yards.
Built in 1975, the Escondido complex sold for $180,000 per unit. The value indicators at time of sale were: Gross Rent Multiplier (GRM) 10.82 & Capitalization Rate (CAP Rate) of 5.78%. Additionally the purchase price per square foot was $173.
About ACI Apartments INC.
ACI is the most successful income property brokerage firm in the county. Since 1982, they have specialized in apartment and investment property transactions, and 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