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Apartments in Pacific Beach on Mission sold

The 15-unit apartment in Pacific Beach at 4702 Mission Blvd., San Diego 92109, has been sold for $2,025,000.

The buyer was Mission Beach15 Ventures, LLC, a California limited liability company, 1787 Glidden Court, San Diego 92111. Michael Contreras is the manager of Mission Beach15.

The acquisition was financed with a loan of $1,185,000 from JPMorgan Chase Bank (NYSE: JPM).

The seller of the property (assessor's parcel 415-522-08) was Rancho Investments Family Limited Partnership, a Nevada limited partnership, with RSF Funding Corp. as general partner. John McCristy is president of RSF.

The two-story, approximately 5,120-square-foot apartment was constructed in the early 1950s on a 6,251-square-foot lot.

The property was sold in February 1995 for $595,000.

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