Just Sold – 16 Units in El Cajon for $2,215,000.00

Below is a press release for   January 19, 2016:

ACI Apartments is pleased to announce the recent sale of a 16 unit complex in El Cajon. The property, located at 351 W. Palm Ave, was purchased by  Erick & Krystin G. Thompson for $ 2,215,000 as the upleg for a 1031 exchange. The deal closed at 11.5 GRM, 4.7 Cap, $ 186 per sqft and $138,438 per unit.

Brian Raynoha of Apartment Consultants, Inc advised and represented the buyer. The buyer exchanged 6 units into 16 units. The Seller was represented by Bill Anderson & Mathew Brothers of ACRE.

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.