ACI Apartments is pleased to announce the recent sale of a 5-unit property in North Park, a neighborhood of San Diego, California. The mixed-use property, situated on a 10,650 square foot lot at 3085-95 El Cajon Blvd, was sold by the John F. Groebli and Jeannie K. Groebli Revocable Trust for $2,350,000.
The seller was represented by Norm Root of ACI. The buyer, North Park Business Associates, LLC, a California limited liability company was represented by Jan Sachs of Pacific Coast Commercial.
The property will be redeveloped by the purchaser. The subject property has been sold for its infill development potential as it was recently up-zoned to CC 3-9 which allows 1 residential unit for every 400 square feet of land. This allow for up to 27 units to be developed.
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