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Apartment building in Bankers Hill sold

A single-building, 14-unit apartment in Bankers Hill at 2262 Brant St., San Diego 92101, and a single-building, 15-unit apartment in Hillcrest at 4063 Albatross St., San Diego 92103, have been sold for $3,297,000, cash.

The buyer was Dan Floit, c/o Floit Properties Inc., 3565 Seventh Ave., San Diego 92103.

The seller of the properties (assessor's parcel 533-150-01 and 444-491-06) were Ronald James and Marianne Cardwell.

The three-story, approximately 6,468-square-foot Brant property was constructed in 1958 on a 5,000-square-foot lot. The apartment consists of all studio units.

The property was sold in March 2011 for $1.26 million, with financing of $865,000 from JPMorgan Chase Bank (NYSE: JPM). The buyer in that transaction was MRD Hillcrest LLC, with Floit as manager

The three-story, approximately 13,992-square-foot Albatross property was constructed in 1970 on a 10,398-square-foot lot.

The apartment consists of 27 bedrooms and 17 bathrooms.

The property was sold in September 2010 for $2.29 million, with financing of $1.65 million from JPMorgan Chase Bank.

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