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Apartment in Oak Park on 54th sold

The three-building, 12-unit apartment complex in Oak Park at 2959-2965, 2967-2973 and 2975-2981 54th St., San Diego 92105, has been sold for $1.35 million.

The buyer was SDPB Holdings LLC, a Nevada limited liability company, 4629 Cass St., Suite 255, San Diego 92109. Michael Donovan is the member of SDPB.

The acquisition was financed with loans of $995,000 on each of the three buildings and a 1,089-square-foot vacant lot from The Loan Company of San Diego, and a loan of $366,000 on all three buildings and the lot from Stand Up Properties LLC.

The seller of the properties (assessor's parcels 477-341-02, 04, 36 and 37) was Mark L. Godwin.

AVM Properties handled the transaction for the buyer and seller.

Each two-story building is 3,120 square feet with four units totaling eight bedrooms and four bathrooms.

The apartment was constructed on four lots totaling approximately 11,000 square feet at the corner of 54th and College Grove Way.

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