5 units in Hillcrest Sold for $2,200,000

SAN DIEGO – August 16, 2022
ACI Apartments is pleased to announce the recent sale of five units in the Hillcrest neighborhood of San Diego. The 3,402 square foot property situated on an 6,413 square foot lot located at 3718-3724 1st Avenue was purchased by Coastal Homes and Development Inc of San Diego for $2,200,000.
The San Diego seller, The Pajak Family Trust, was represented by Terry Moore CCIM of ACI Apartments as part of a 1031 tax deferred exchange. The buyer was represented by Alex DeLuna of Berkshire Hathaway.
The charming historical landmark property consists of an 1891 Victorian house with three units and two cottages in back. There is one 2bd/1ba, four 1/bd/1ba units and a laundry room. The property has a Mills Act designation that provides tax benefits and is in the heart of Hillcrest walking distance to shops and restaurants.

About ACI Apartments INC.
Since 1982, ACI Apartments has been a leader in San Diego apartment investment. With over 148 years of combined leadership experience between its senior staff, ACI has helped countless clients reach their investing goals through billions in transaction revenue. Please visit us online for more information at www.aciapartments.com