Just Sold – 15 units in College Area for $2,625,000

SAN DIEGO - Aug. 31, 2015 - PRLog -- ACI Apartments is pleased to announce the sale of a 15-unit complex in the College Area neighborhood of San Diego. Esther Daniels purchased the 14,458 square foot property located at 4438 56th St for $2,625,000.

Arby Eivazian represented the buyer. This was the second transaction the buyer has done with Arby Eivazian. Ed Rosen of Cushman Wakefield represented the seller, 4438 Properties LLC. Built in 1979 this two-story investment property consists of 15, 2 bedroom 2 bath units. The value indicators at time of sale were: 11.4 GRM (Gross rent multiplier), 4.9% Capitalization rate (CAP Rate), and $180 price per square foot. The $1260 rents per unit were considered low for the area.

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.