ACI Apartments is pleased to announce the recent sale of The Oxford Villas Apartments, a 12-unit apartment complex located in Chula Vista, CA. The 20,100 square foot property, located at 577 Oxford St. Chula Vista, CA 91911, was purchased by Shahrokh Elihu for $3,150,000.
Mark Morgan of ACI Apartments represented Muraoka Enterprises Inc., Seller. The Buyer was Shahrokh Elihu and was represented by Allen Chitayat of CBRE.
The Oxford Villas Apartments, constructed in 1978, consists of 12 large 850sf 2 Bedroom / 2Bath units. Tenants at Oxford Villas enjoy their own private patio or balcony, air conditioning, laundry room, and on-site parking. The Oxford Villas Apartments, situated on a 19,166sf lot, sold for $262,500 per unit. The value indicators at time of sale were: Gross Rent Multiplier (GRM) 15.8 and Capitalization Rate (CAP Rate) of 4.2%. Additionally, the purchase price per square foot was $308.82. The property is made up of entirely 2 Bedroom / 2 Bath units which had average rents of $1,375 at close of escrow. The property was 100% occupied at time of sale.
Since 1982, ACI Apartments has been a leader in San Diego apartment investment. With over 148 years of combined leadership experience between its senior staff, ACI has helped countless clients reach their investing goals through billions in transaction revenue. Please visit us online for more information at www.aciapartments.com