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Motel/inn on N. Coast Hwy. in Encinitas sold

The 30-room Pacific Surf Inn at 1076 N. Coast Highway 101, Encinitas 92024, has been sold for $4.08 million.

The buyers were Keith B. and Sara S. Harrison (30 percent), P.O. Box 231594, Encinitas 92023, and James E. Harrison and Sharan K. Harrison, trustees of the Harrison Family Trust (70 percent).

The acquisition was financed with a loan of $2,524,000 from San Diego County Credit Union.

The seller of the property (assessor's parcel 254-292-23) was Gili Investments Inc., with Kevin Lee as the president.

The two-level, approximately 15,555-square-foot motel was constructed in 1978 on a 32,670-square-foot lot.

Each unit is separately metered with a fill kitchen and patio/balcony.

The rooms consist of 29 studios and one two-bedroom manager's unit.

The property can be redeveloped into mixed use with 19 residential units over retail space.

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