10 Units in San Diego Sold for $1,208,500

Below is a press release from August 14, 2015:

ACI Apartments is pleased to announce the recent sale of a 10 unit complex in San Diego. The property, which is located at 2025-2029 Harrison Ave., consisted of 10 junior one bedrooms and 2 large two car garages. The units are small but in good condition with a very stable tenant base. The two structures have a total of 3,740 rentable square feet and are on a 7000 sqft lot. The property sold at a 5.22 Cap rate and a 10.95 Grm on the current rents.

Brian Raynoha of ACI Apartments represented the Buyer. The Seller was represented by David Cameron & Alex Gamboa of South Coast Commercial Inc.

This property is comprised of ten one bedroom/one bath units which totaled 7,000 sqft rentable square feet.

ACI is the most successful income property brokerage firm in the county. Since 1982, they have specialized in apartment and investment property transactions, and sustained a strong 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 house in the county – that’s more properties than the number two and number three firms combined.