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Ocean Beach apartment on Santa Monica sold

The six-unit apartment in Ocean Beach at 5074-5080 Santa Monica Ave., San Diego 92107, has been sold for $1,465,000.

The buyer was Marcia Lynn Matassa, successor trustee of The Mills Trust, 1526 Virginia Road, Fullerton 92831.

The acquisition was financed with a loan of $835,000 from JPMorgan Chase Bank (NYSE: JPM).

The seller of the property (assessor's parcel 448-091-35) was 5074-5080 Santa Monica Avenue LLC, a California limited liability company. Thomas J. Bryan Jr. and David B. Bee are managing partners of the seller.

The building was constructed in 1951 on a 7,000-square-foot lot a block from the ocean.

The approximately 3,446-square-foot apartment consists of 10 bedrooms and six bathrooms.

The property includes four garages on an alley recessed under units.

The property was sold in May 1984 for $350,000, with financing of $290,000.

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