Sold: 20 units in City Heights, San Diego for $2,250,000

Below is a press release from June 9, 2014:

SAN DIEGO – ACI Apartments is pleased to announce the recent sale of a 20-unit complex in City Heights. The 11,950 square foot property, located at 4348 53rd St, was purchased by City Heights Community Development Corporation for $2,250,000.

The seller, Vista International was represented by Brian Raynoha of ACI, and the buyer was represented by Ricardo Lopez and Keith Courtney of ACI. Escrow was handled by Teresa McElaney of Chicago Title and Richard Moore of Chicago Title handled title insurance.

This investment property is located just 1 block south of El Cajon Blvd. between Dawson Ave and 54th St. Built in 1975, this complex consists of sixteen 1-bedroom/1-bath units, and four 2-bedroom/1-bath units.

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.