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Condo conversion in University Heights on Oregon sold

The eight-unit condo conversion in University Heights at 4657-4663 Oregon St., San Diego 92116 has been sold for $1,415,000.

The buyer was Nic & Norm LLC, 6232 La Jolla Blvd., La Jolla 92037, c/o Mr. And Mrs. David N. Repp Jr.

The acquisition was financed with a loan of $919,750 from First Foundation Bank.

The sellers of the property (assessor's parcel 445-091-06) were Serge Decorte and Lucy J. Decocrte, trustees of the 1983 Decorte Family Trust.

In May 2009, the apartment and tentative condo map were sold for $1.03 million.

As an apartment, the property had one three-bedroom unit and seven two-bedroom units. The two-story, 6,650-sqare-foot apartment now consists of all two-bedroom, one-bath units, with one unit having a den. The apartment was originally constructed in 1957 on a 7,000-square-foot lot that includes eight on-site parking spaces.

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