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Apartment on Reed Ave. in Pacific Beach sold

The 16-unit apartment in Pacific Beach at 1827 Reed Ave., San Diego 92109, has been sold for $4.05 million, cash.

The buyers were Ronald Lackenbacher and Eva L. Lakenbacher, as trustees of the Toremi 1994 Revocable Trust, 111 Sugarloaf Drive, Tiburon 94920.

The sellers were Mary Machado, trustee of the Avelino P. Machado Credit Shelter Trust; Thomas A. Machado and Marguerite L. Machado, co-trustees of the Machado Family Trust; Marian C. Machado, trustee of the Marian C. Machado Separate Property Trust; an Denise J. Ortega, trustee of the Denise J. Ortega Separate Property Trust.

The two-story, approximately 12,069-square-foot apartment was constructed in 1967 on a 13,504 square foot lot. The apartment consists of 16 bedrooms and 12 bathrooms.

The apartment is under an October 1985 condominium map, and includes tandem parking in front and under-unit garages off the alley in the rear.

The property was sold in July 1988 for $1,165,000, with financing of $575,000 from California Savings & Loan.

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