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Value-Added Apartments Trade in San Diego’s Ocean Beach Neighborhood
Marcus & Millichap closed the sale of Sheila Lynn, an eight-unit apartment property located at 4840 Del Monte Ave. in the Ocean Beach neighborhood of San Diego. The asset sold for $3,650,000.
“This property presented investors with the rare opportunity to acquire a value-added asset featuring a great unit mix of all two-bedroom/one-bath units a few blocks from the water,” said Jamison Wheeler, investment associate in Marcus & Millichap’s San Diego Del Mar office.
Wheeler and Austin Huffman, VP investments in the firm’s San Diego Del Mar office, marketed the property on behalf of the seller, The Gilbert K. & Sheila A. Sloan Family Trust. The buyer, 9 Mendridge LLC., was represented by Graeme Henderson, senior associate in the firm’s San Diego Del Mar office.
“The property’s unit layout, location, and abundant off-street parking intrigued the buyer,” Henderson said.
- ◦Sale/Acquisition




