10 Units in Lincoln Park Sold for $1,399,000

Lincoln Park, San Diego
Lincoln Park, San Diego
SAN DIEGO - Aug. 21, 2014 - PRLog -- ACI Apartments (http://aciapartments.com/) is pleased to announce the recent sale of a 10 unit complex in the Lincoln Park neighborhood of San Diego. The 8,984 square foot property, located at 375 S. 49th Street, was purchased by William Thorn for $1,399,000 as part of a 1031 tax deferred exchange for both buyer and Seller.

Terry Moore CCIM of ACI represented the buyer, William Thorn. The Seller was represented by Benn Vogelsang and Brian Nelson of South Coast Commercial.

The property consists of one, two, and three bedroom units with 20 gated parking spaces and is located within minutes of the on-ramp to Hwy 94. The asset was substantially upgraded and re-tenanted and will provide superior cash flow.

Mortgage broker services were provided by Keith Oldham of Alcoe Capital and financing was provided by Laurie Blake of Mission Federal Credit Union.

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.

ACI Apartments
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Tags:Property, Apartments, Real Estate, Investment
Industry:Investment, Real Estate
Location:San Diego - California - United States
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Page Updated Last on: Aug 21, 2014
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