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Apartments on Illinois in University Heights sold

The 24-unit apartment complex at 4484 Illinois St., San Diego 92116, has been sold for $2,555,000, or $198.03-per-square-foot.


The buyer was Community at Joy Building Inc., a California limited liability company. Gregory B. Stangman and Randall Rorman are managers of the buyer. The acquisition was financed with a loan of $1.9 million from Opus Bank.

The sellers of the property (assessor's parcel 446-051-34) were Ronald R. and Josephine K.A. Kutzke, as trustees of the Ronald R. Kutzke and Josephine K.A. Kutzke Revocable Trust.

The two-story, approximately 12,902-square-foot apartment includes 20 bedrooms and 20 bathrooms. The apartment was constructed in 1956 on a 14,898-square-foot lot.

The apartment consists of four two-bedroom, two-bath units, 12 one-bedroom units and eight studios.

The property was sold in December 1985 for $337,500.

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