APARTMENTS IN UNIVERISTY HEIGHTS ON MONROE SOLD

San Diego Source

August 19, 2015

The six-unit Monroe Villa apartment complex in University Heights at 2875 Monroe Ave., San Diego, has been sold for $1.37 million, cash.

The buyer was Oceanside Enterprises LLC, a Nevada limited liability company, 5055 Canyon Crest Drive, Riverside 92507.

The sellers of the property (assessor's parcel 446-102-29) were Veronica A. Delaney as trustee of The Veronica A. Delaney Trust, and Patrick A. Collins and Jennifer J. Collins, as trustees of The Collins Family Trust.

Immediately preceding the transaction, title to the property passed to the sellers from Monroe Villa Associates LLC, a California limited liability company with The Veronica A. Delaney Trust and The Collins Family Trust as members.

Aaron Bove, vice president investments at the San Diego office of Marcus & Millichap (NYSE: MMI), represented the buyer. The seller was represented by Merrick Matricardi, of CBRE (NYSE: CBG).

The two-story, 4,170-square-foot apartment was built on a 4,996-square-foot parcel.

The apartment consists of one- and two-bedroom units totaling nine bedrooms and bathrooms.

The property includes tuck-under garages, and balconies and backyards in select units.

Additionally, Monroe Villas has a final subdivision tract map for condominiums which allows for condominium sales, according to John Vorsheck, regional manager of M&M's San Diego office.