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Sunset Place apartment in OB sold

The eight-unit Sunset Place apartment in Ocean Beach at 4746-4756 1/2 Point Loma Ave., San Diego 92107, has been sold for $2,384,200, including assumption of an August 2012 loan of $639,256 from Opus Bank.

The buyer was Point Loma Properties LLC, 7676 Hazard Center Drive, Suite 700, San Diego 92108. WXYZ LLC is the manager of Point Loma, and the Nancy Krasnoff Separate Property Trust is the manager of WXYZ. Nancy Krasnoff is the trustee of the property trust.

The seller of the property (assessor's parcel 448-351-06) was John Douglas Dudek, trustee of the Dudek Family Trust.

The seller was represented by Joseph V. Siemienowski, of Siemienowski & Associates and JD Dudek, of Western Mission Properties.

The buyer was represented by Allen Chitayat, of Hendricks-Berkadia. Escrow services were provided by Alicia Ramirez, of Allison-McCloskey Escrow, and title services by Tonya Courtney, of Stewart Title.

The property is a courtyard apartment consisting of eight two-bedroom/one-bath single-level units of 672 square feet each, with front and back entrances. The property also includes eight garages. The sale price represents a per-unit price of $298,025, a GRM of approximately 14.4 and a CAP rate of 4.38. The price per square foot is $338.75. The seller acquired the property in 2012 for $1.85 million.

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