ACI Apartments is pleased to announce the recent sale of ten units in the Lincoln Park neighborhood of San Diego. The 8,984 square foot property situated on a 17,005 square foot lot located at 375 S. 49th Street was purchased by 375 49th St LLC, of San Diego for $2,284.000.
Terry Moore CCIM of ACI represented both the buyer and seller. Moore has represented the San Diego seller, William Colin Thorn, Trustee of the 375 South 49th Street Trust, on multiple transactions, this one being part of a 1031 tax deferred exchange.
The 1971 property consists of four 3bd/2ba units and six 2bd/1ba units. There is a gated entry and 20 parking spaces. More than $200K of upgrades were done in 2014. There is rent upside potential by making additional upgrades to the property.
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