4 Units in Logan Heights Sold for $585,000

Below is a press release from August 14, 2015:

ACI Apartments is pleased to announce the recent sale of a 4 unit complex in Logan Heights. The 1,947 square foot property, located at 335-341 S 28th St, was purchased by Carlton and Zontonia Phillips for $585,000.

The seller, Yazi Properties, LLC was represented by Curt Allen of ACI Apartments, Inc., and the buyers were represented by Marc Medina of J&M Investment Solutions. Escrow was handled by Alison Melendez-Munoz of Elite Escrow Services. Stephen Spellerberg of First American Title handled the title insurance.

This investment property is located just north of the intersection of 28th and Oceanview Blvd. Built in 1950, this professional managed building consists of all 2 bedroom, 1 bath units with an average rent of $975. With exceptional downtown San Diego views, this property shows great upside potential in rents and property value.

The seller of this property will be 1031 exchanging into a larger asset.

ACI is the most successful income property brokerage firm in the county. Since 1982, they have specialized in apartment and investment property transactions, and 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.