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Four-plex in OB on Long Branch sold

The four-unit apartment in Ocean Beach near the ocean at 5151 Long Branch, San Diego 92107, has been sold for $1.02 million.

The buyers were Alan Gaffay, Jack G. Melroy and Michael Dudding, c/o Melroy Properties, attn: Paula Pramschuefer, 4241 Jutland Dr., Suite 201, San Diego 92117.

The acquisition was financed with a loan of $768,750 from Wells Fargo Bank (NYSE: WFC).

The seller of the property (assessor's parcel 448-033-27) was Robert Edmonston Coil, trustee of the Edmonston Fisher Ciol and Arlene Inez Coil 1979 Trusts-Survivors Trust.

Three units are two-bedroom, two-bath and are 885, 931 and 1,059 square feet. One unit is 1,246 square feet with three bedrooms and two baths. Three of the units have decks.

In 2006, renovations over $450,000 included stucco, tile, granite counters and paint. The property also includes a coin operated laundry room and additional storage for each unit.

The apartment totals 4,121 square feet, with nine bedrooms and eight bathrooms, and occupies a 4,000-square-foot lot. The property includes eight off-street tandem parking spaces.

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