The units – built in 1951 – are located at 5074-5080 Santa Monica and were sold to Marcia Lynn Matassa, successor trustee of The Mills Trust, 1526 Virginia Road, Fullerton 92831.
The improvements are on a 7,000-square-foot lot about a block distance to the beach (assessor’s parcel 448-091-35). The six units comprise approximately 3,446-square-feet of apartment floors that include 10 bedrooms and six bathrooms.
Matassa’s acquisition was financed with a loan of $835,000 from JPMorgan Chase Bank.
The seller of the property was 5074-5080 Santa Monica Avenue LLC, a California limited liability company. Thomas J. Bryan Jr. and David B. Bee are managing partners of the seller.
Last time the property was sold was in May 1984 for $350,000, with financing of $290,000.
(Source: The Daily Transcript – subscription)