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Mixed-use property in PB on Jewel sold

The two-story, mixed-use, approximately 11,300-square-foot property in Pacific Beach at 4640 Jewel St., San Diego 92109, has been sold for $2.6 million. The property includes eight two-bedroom/one-bath apartments totaling about 9,000 square feet and eight office suites of approximately 300 square feet each.

The buyers where Security F.S.E. Two Hundred and One Inc. (58 percent) and Security F.S.E. Two Hundred Inc. (42 percent). Shelene Nordstrom-Vaka, Esq., is the vice president of both companies and Monique Wilson is secretary.

The acquisition was financed with a loan of $1.23 million from Lone Oak Industries Inc. and Lone Oak Fund LLC.

The seller of the property (assessor's parcel 416-510-09) was 4060 Jewell LLC, with The John A. Belice Family Trust as its member. John A. and Gleneva C. Belice are the trustees of the family trust.

Gary B. Urtiaga, senior vice president/director of Apartment Realty Group (ARG), and Gabe Candea, senior associate, represented the buyers and seller. The escrow was handled by Annemarie Lococo of Chicago Escrow Company and title was provided by Toby Macfarlane of Advantage Title Company.

The property was originally constructed in 1972 on a 15,850-square-foot lot by Ray Huffman as an office building. Huffman was one of San Diego's most prolific builders of mid-sized apartments. The property was redeveloped in 1993.

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