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North Park apartments on Oregon sold

The 20-unit Oregreen Apartments complex in North Park at 3940 Oregon St., San Diego 92104, has been sold for $3,305,000.


The buyer was Midnight Sun Associates LLC, 746 Horton Road, Bonita 91902. Carol Thompson Crossman is the manager of Midnight Sun. The acquisition was financed with a loan of $1.5 million Ann Block with JPMorgan Chase Bank (NYSE: JPM).

The seller of the property (assessor's parcel 445-702-30) was 4333 44th Street LLC, with Alberto Tawil Hanono and Leon Alchalel as managers.

Robert Vallera, of Voit Real Estate Services, represented the buyer. Matthew Udewitz, of Keller Williams Commercial, represented the seller. Annemarie Lococo and Chris Ghio, both with Chicago Title Company, provided escrow and title services, respectively. The buyer has retained Cambridge Management Group to operate the property

The 16,052-square-foot complex was constructed in 1971 on a 14,000-square-foot lot. The apartment consists of 12 one-bedroom units and eight two-bedroom, two-bathroom units.

The square building has a courtyard in the middle. The front is two stories with 12 off-street parking spaces. The rear is three stories total, with eight garages two-stories of living quarters.

The property has tentative condo map approval.

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