11 Units Apartment Complex in Golden Hill Sold for $2,800,000

3087 A Street, an 11 Units Apartment Complex in Golden Hill

SAN DIEGO, October 24, 2016 – ACI Apartments is pleased to announce the recent sale of an 11 unit complex in Golden Hill, a neighborhood in San Diego. The 5780 square foot property situated on a 7221 square foot lot at 3087 A Street was purchased by the Mincks Family Trust of San Diego for $2,800,000.

The buyer was represented by Chris Siedenburg of ACI, while the seller, Leavitt Investment Co. also of San Diego was represented by James Carter and Doug Taber of ARG.

The property consists of a unit mix of one 2 br/2 ba, three 2 br/1.5 ba, and seven 1 br/1ba units. Also located on the premises are six 2 car garages with newer automatic rollup doors.  This property also offers on-site laundry. The property has undergone many recent renovations including new cabinets; new appliances (some of which are stainless steel); new bathroom fixtures; with select units offering new flooring and vaulted ceilings; all units have built-in A/C systems.  This property also offers clean, well-kept exterior common areas and a secure living environment with locking security gates at both the front and backend on the property.

This pet friendly property provided the buyer a 4.7% cap rate on actual income, and with upside in rents, is likely to provide an even better return in the months and years to come.

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