9 units in El Cajon Sold for $1,650,000

Below is press release from November 12. 2015:

ACI Apartments is pleased to announce the recent sale of a 9 unit complex in the El Cajon neighborhood of the City of San Diego. The 8,190 square foot property, located at 1000 Billings Street, was purchased by The Michael L. Chasin and Stacey L. Coleman Family Trust for $1,650,000.

Terry Moore CCIM of ACI represented The Michael L. Chasin and Stacey L. Coleman Family Trust, Buyer as part of a 1031 tax deferred exchange. Moore has done several other transactions with this investor. The Seller, Thomas J. Cunningham was represented by Matthew Billings of ACRE Investment Services.

The Billings Manor property consists of nine 2bdrm/2ba units at 910 sf each, on two adjacent lots. The units have been completely rehabbed recently including new kitchens, baths, tile flooring, etc. Each unit also has a private patio.

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.