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California  + San Diego  + Apartments  | 

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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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