SAN DIEGO, CA - ACI Apartments is pleased to announce the sale of a 39-unit legacy portfolio at The Juniper Apartments (1568 S. Juniper Street) and The Sunset Apartments (205 W. Vermont Ave). Both properties are located in the southern region of Escondido a city within San Diego County.
The Juniper Apartments are situated along a private driveway near the intersection of South Juniper Street and East 15th Avenue. Located further south, The Sunset Apartments are located near a three-way intersection with South Escondido Blvd, Sunset Drive, and West Vermont Avenue.
The property was sold by G & Y Properties LLC for $8,150,000.
The seller was represented by Keith Courtney of ACI Apartments. G & Y Properties, LLC (The Gallagher Family) built The Sunset Apartment’s in the early 1970’s and have owned The Juniper Apartments for over 25 years. Keith Courtney says, “several members of the Gallagher family were very involved in the construction and operations of these well-maintained properties over the many years of their ownership, so it’s nice to see these buildings being sold to a buyer that will continue the legacy of providing quality housing that the seller has established”. The buyer of the portfolio, Dan Feder with F&F Properties was represented by Nick Zalkow also of ACI Apartments. “The buyer was attracted to the Value-Add opportunity that these two properties provide as well as the solid rental growth that North County continues to experience” explained buyer agent Nick Zalkow.
The Juniper Apartments consist of 11 separate structures with a mixture of 1 & 2 bedroom floorplans and 5 single family cottage units. The Sunset Apartments consists of all 2-bedroom floor plans on a large lot giving all residents 2 reserved parking spaces. Located in the high rental demand area of Escondido, both assets have access to renowned retail, restaurants and services in the area.
Established in 1982, Apartment Consultants, Inc. (ACI) is a multifamily brokerage firm that specializes in apartment and investment property transactions. We have maintained a solid performance despite changing economic cycles with an average of more than 140 closed escrows per year – that’s more properties than the number two and number three firms combined. Learn more about ACI at www.aciapartments.com
For more information, Keith Courtney can be reached at 619-725-3635 or keithcourtney@aciapartments.com