An eight-unit apartment property located at 4840 Del Monte Ave. was sold for $3,650,000.
Apparently the layout of the units (?), the apartment’s location and the abundant off-street parking were the factors that pushed the buyer, 9 Mendridge LLC, to clench the deal from seller The Gilbert K. & Sheila A. Sloan Family Trust. The buyer was represented by Graeme Henderson.
Marcus & Millichap closed the sale of the apartment complex, called Sheila Lynn. Their investment associate, Jamison Wheeler, said:
“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.”
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.
My third grade teacher at Silver Gate lived there, and when she had to stop teaching because she was pregnant (school district rules didn’t allow teachers to teach who were “showing”), my friend Bob Wykowski and I used to visit her. We visited Mrs. Smellie many times. My cousin, a school teacher in San Diego, fought the “pregnancy showing” dictum and won about 10 years later.