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Mixed-use Fifth Ave. downtown property sold

The approximately 2,200-square-foot, three-unit apartment at 1544-1548 Fifth Ave., San Diego 92101, the 3,064-square-foot commercial building at 1552-1558 Fifth Ave. and an adjacent 2,500-square-foot parking lot, have been sold for $1.1 million. The two-story apartment and the one-story commercial building were built in downtown San Diego in 1940. The three properties total 10,000 square feet.

The buyer was Atlas Inc., c/o William Reedhead Esq., 1951 Cable St., San Diego 92107. Tom Dowlat is president and secretary of Atlas.

The acquisition was financed with a loan of $935,000 from US Metro Bank.

The seller of the property (assessor's parcels 533-384-08, 09 and 10) was Financial 21 Services LLC, a California limited liability company with Kenneth A. Horton as vice president of finance.

The property was sold in March 1998 for $320,000.

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