4 Units in the College Area Sold for $654,000

Below is a press release from July 13, 2015:

ACI Apartments is pleased to announce the sale of a 4 unit complex in the Sherman Heights neighborhood of San Diego. The property is located at 207 19th Street, was purchased by Mitchell Martinez for $654,000. Brian Raynoha of ACI represented the Seller, Juan and Linda Tamez, the Buyers were represented by Miguel Contreras of Dominion West Properties.

This complex built circa 1946 is comprised of one structure totaling 2,040 rentable sqft on a 3,498 sqft lot. The unit mix consisted of four one bedroom one bath units. The Cap rate was 3.95 with the GRM at 16.2. The property is within walking distance to Petco Park and the new 196.7 Million dollar San Diego Central Library.

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.