SAN DIEGO, September 16,2019
ACI Apartments is pleased to announce the recent sale of a 21-unit complex in San Diego. The 18,303 square foot property situated on a 18,725 square foot lot at 4538 Norwood Street, was sold by the Chu Family Rvocable Intervivos Trust and Chuland Investments, Inc. for $4,850,000.
The sellers were represented by Ricardo Lopez of ACI Apartments. The buyer, Exchange Resources, Inc. was also represented by Ricardo Lopez.
The property consists of seven (7) 2 Bedroom 1.5 Bathroom Units along with fourteen (14) 2 Bedroom 1.5 Bathroom townhomes with a unit square footage of approximately 900 ft.². Parking on location consists of 20 carports along with 1 open space. This value-add asset is well maintained with solid 1965 construction. 10 units have been remodeled.
The property is located only a short distance to the San Diego neighborhoods of Kensington and Talmadge. The property is near Hoover High School.
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