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Apartment in Ocean Beach on Sapphire sold

The four-unit apartment in Ocean Beach at 814-816 Sapphire St., San Diego 92109, has been sold for $1.24 million.

The buyer of the property was 3240 Partners Ltd., a California limited partnership with 3240 Olive Street LLC as general partner. John Michaelsen is the manager of 3240 Olive.

The acquisition was financed with a loan of $650,000 from Standard Insurance Company.

The seller of the property (assessor's parcel 415-241-26) was LCMC Group LLC, a California limited liability company. Terry Hang Chau and Lisa Chau Minnich signed for LCMC.

The approximately 2,940-square-foot, one-story apartment was constructed in 1978 on a 5,998-square-foot lot.

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