8 Units in Bankers Hill Sold for $1,900,000

Below is a press release from September 29, 2015:

ACI Apartments is pleased to announce the recent sale of an 8 unit complex in the Bankers Hill neighborhood of San Diego. The 5,451 square foot property, located at 3000-3010 5th Avenue and 428-432 Quince Street, was purchased by Steven W. Hendrix and Sheri Lynn Snively of the Hendrix-Snively Family Trust for $1,900,000. This property was part of a tax deferred exchange wherein the buyer sold a property at 950 West Muirlands in La Jolla for $1,625,000 and used the proceeds to purchase the Bankers Hill property. Chuck Hoffman of ACI represented the seller in the Muirlands transaction.

Terry Moore CCIM of ACI represented the seller, Thomas and Christine Olivas. Chuck Hoffman and Tiffany Hoffman of ACI represented the buyer.

The classic Bankers Hill mixed use property has two retail spaces, one studio, four 1bd/1ba units and one 2bd/1ba unit. It has views of San Diego Bay and Balboa Park and is nestled between downtown and Hillcrest.

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.