The buyer, Monroe Communities LLC, has shelled out $1.5 million for the complex, which it has acquired from Douglas and Katherine Stewart of San Diego. The nine-unit multifamily property, which is a condo conversion, stands at 2230 Monroe Ave.

Steve Huffman and Jules Arthur of the San Diego office of Hendricks & Partners brokered the transaction.

The Monroe transaction is the latest in a string of multifamily sales to close here, as San Diego's apartment market continues to attract commercial real estate investors at a dizzying pace. Some industry experts are calling San Diego County the strongest multifamily market today, attributing the county's current upswing in apartment transactions to the region's housing shortage, the recognition that real estate is a viable investment and the current low interest rates.