A Newport Beach buyer listed as 1193 Florence LLC has acquired a 12-unit apartment complex in Imperial Beach for approximately $2.54 million, according to brokerage firm Apartment Consultants Inc. (ACI)

The seller of Imperial Beach Villas, at 1193 Florence St., was Mar City III LLC of Del Mar, represented by ACI’s Mark Morgan. The buyer was represented by Yvonne Oberle of Willis Allen Real Estate.

Brokers said the property was built in 1960 and was fully occupied at the time of sale. The complex recently underwent a renovation of more than $125,000 with improvements made to several interior and exterior elements.