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Apartment in University Heights on Illinois sells

The eight-unit apartment in University Heights at 4441-4447 Illinois St., San Diego 92116, has been sold for $1,285,000, cash.

The buyer was SRM Investments LLC, a California limited liability company, 5694 Mission Center Road, Suite 602-630, San Diego 92108.

The seller of the property (assessor's parcel 446-122-03) was Illinois St. Investors Ltd., with John L. Mann and Sue A. Mann as general partners.

The two-story, approximately 4,798-square-foot apartment was constructed in 1968 on a 6,996-square-foot lot.

The apartment consists of nine bedrooms and eight bathrooms.

For the past three years, SRM Investments has been acquiring apartment properties scattered throughout University Heights and North Park in cash transactions.

Among the reported acquisitions, starting in late 2011, were 10 units at 3952 32nd St. for $1,249,000.

In 2012, SRM acquired 12 units at 3317-3331 30th St. for $1,485,000; seven units at 4046 Arizona St. for $1,395,840; and 12 units at 4201-4223 Hamilton St. for $1.7 million.

Last year, SRM acquired 15 units at 3202-3212 30th St. for $1.95 million; and nine units at 4327 Oregon St. for $1,395,000.

Earlier this year, SRM acquired eight units 3918-3924 Mississippi St. for $1.55 million; 10 units at 4435-4439 Ohio St. and an adjacent, vacant 5,249-square-foot lot for $2.2 million; and eight units at 4650-4656 Mississippi St. for $1.47 million.

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