SAN DIEGO, May 25, 2016 – ACI Apartments is pleased to announce the recent sale of a four-plex in Spring Valley, California. The 14,564 square foot property situated on a 37,897 square foot lot at 8861-8869 Lamar Street, was sold for $795,000.
The Seller, Griddines Mansions LLC of Spring Valley, was represented by Anton Burman and Arby Eivazian of ACI, and the Buyer, Pat McCallion & Danielle McCallion of Carmel Valley were represented by Matt McFarland from Farland Realty. The transaction sets a record high-watermark for the sale of four-plex properties in Spring Valley. According to data acquired by Sandicor Incorporated, the agreed-upon sale price is $35,000 higher than the previous record-holder, 436 Grand Ave.
The selling agents attribute the record setting sale to dynamic marketing and current market conditions. “Our professional video promotion was shown to hundreds of prospective buyers and highlighted the interior and exterior of the units effectively” says Arby Eivazian, one of the two seller representatives. This marketing package emphasized many major on-site renovations including new granite countertops, tile flooring, kitchen cabinetry, and appliances. The property, which consists of all 2 bedroom/1 bathroom spaces, also boasts fencing in spacious front and private back yards.
The selling agents also note that this sale signals a benefit to the seller’s market. “It means an owner can refinance their property and pull more cash out than before” Eivazian explains, adding “it also means they can expect a justified higher listing price and eventually higher sold price.”
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