9 Mendridge LLC Acquires 8-Unit Multifamily Property In San Diego's Ocean Beach For $3.65M

The Gilbert K. & Sheila A. Sloan Family Trust has sold Sheila Lynn, an eight-unit apartment property located at 4840 Del Monte Avenue in San Diego's Ocean Beach, for a total of $3,650,000. The property, a value-added asset with a favorable unit mix, was marketed by Jamison Wheeler and Austin Huffman of Marcus & Millichap. The buyer, 9 Mendridge LLC, was represented by Graeme Henderson.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,650,000
• Address: 4840 Del Monte Avenue, San Diego
• Market: San Diego
• Buyer: 9 Mendridge LLC
• Seller: The Gilbert K. & Sheila A. Sloan Family Trust
• Brokers: Austin Ray Huffman, Jamison Wheeler & Robert Graeme Henderson - Marcus & Millichap
• Units: 8
• Price per unit: $456,250

Marcus & Millichap successfully facilitated the transaction of Sheila Lynn, a well-located and attractive multifamily property in San Diego. The professional expertise of Austin Ray Huffman, Jamison Wheeler, and Robert Graeme Henderson, representing Marcus & Millichap, ensured a smooth transaction for the seller, The Gilbert K. & Sheila A. Sloan Family Trust, and the buyer, 9 Mendridge LLC. The acquisition of this value-added asset presents various opportunities for the new owner.