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10-unit apartment sold for $1.35 million

The 10-unit apartment in Normal Heights at 3726 Madison Ave., San Diego 92116, has been sold for $1.35 million.

The buyer was Valentino Properties Inc., 4316 Calle Mar de Ballenas, San Diego 92130. The directors of Valentino are Stoyan Gogov and Vassya Vassileva. The acquisition was financed with a loan of $877,500 from JPMorgan Chase Bank (NYSE: JPM).

The seller of the property (assessor's parcel 440-610-17) was CT Mortgage Company, with Abe Cohen as signator.

The approximately 7,063-square-foot, two-story apartment was constructed in 1971 on an 8,398-square-foot lot, and consists of 14 bedrooms and 10 bathrooms.

The property sold for $705,000 in November 2001, with financing of $493,500 from Washington Mutual Bank.

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