4 South Ocean Beach Units Sold for $2,350,000

SAN DIEGO, December 17, 2021

ACI Apartments is pleased to announce the recent purchase of a 4-unit complex in Ocean Beach a block away from the Pacific Ocean. The estimated 1,920 square foot property situated on an estimated 6,740 square foot lot at 1703-19 Bacon St, was purchased by Mincks Family Trust 08-08-00 for $2,350,000.

The buyer was represented by Chris Siedenburg of ACI Apartments. The seller, Orchard Properties LP was represented by Catrina Russell of Coldwell Banker West.

“The buyer purchased this property as part of a 1031 exchange” explains Siedenburg, “allowing the capital gains tax accrued on the sale of another property to be deferred.  The addition of this Real Estate asset along with another addition we’ll soon be making, is all part of a growth strategy that we’ve been working on for years for this particular client.  This is just another step in that strategy that helps increase the overall portfolio value for our client.”

The property consists of four (4) 1 Bedroom/1 Bathroom units. The property has four individual garages. Each unit has its own large private yard and there is on-site laundry as well.   The Seller haw completed many property upgrades over the last several years including but not limited to: New Plumbing; New Roof; Updated interiors in select units; new landscaping and more.

The property has a spectacular location one block from the Pacific Ocean. The property is also just a few blocks from Newport Ave and Santa Monica Ave. Transaction coordination services were provided by Harold Venegas of “The TC House”. Chartwell Escrow’s Anthony Hall provided escrow services.

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