Press Release: Just Sold – 4 Units in Imperial Beach for $846,300

  • Front of a multifamily property in San Diego
  • Front of a multifamily property in San Diego

SAN DIEGO, March 4, 2016 – ACI Apartments is pleased to announce the recent sale of a 4 unit complex located in Imperial Beach, CA. The 3,300 square foot property, located at 1275 Grove Ave, was purchased by The Whitacre Family Trust for $846,300.

Mark Morgan and Dave Savage of ACI represented Downtown San Diego based seller, The Kreutzkamp Separate Property Trust.
The Imperial Beach based buyer was The Whitacre Family Trust and were self represented.  The Buyer intends to substantially upgrade the asset.

The unique property consists of four large 2bd/1ba detached house-like units.  The units feature large backyards and attached garages with washer/dryer hookups. There are four additional off-street parking spaces. The interiors feature a large kitchen with dining area, large living rooms, two ample sized bedrooms and a full size bathroom.
The Grove fourplex located on a 4,792 square foot lot sold for $211,575 per unit.  The value indicators at time of sale were:  Gross Rent Multiplier (GRM) 12.5 and Capitalization Rate (CAP Rate) of 5.5%.  Additionally the purchase price per square foot was $256.45.  The rental rates for the 850 square foot 2 Bedroom / 1 Bath units at time of sale ranged from $1,395-$1,450 and were considered on par for the area.

About ACI Apartments INC.

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.  Please visit us online at