San Diego, Cali. (August 8, 2018) – 4290 Mount Abernathy, a 26-unit apartment building located in the central Clairemont area of San Diego, California has sold for $6,900,000 to Winslow Family LP, a local real estate investor. Kidder Mathews‘ multifamily investment brokers, Jim Neil, Eric Comer and Merrick Matricardi represented the buyer while the seller represented themselves in the transaction.
The apartment building was built in 1980 and underwent an extensive, condo quality renovation in 2008. The sale price represented a 4.3% cap rate on in-place income and expenses. The property was the buyer’s upleg of a 1031 Exchange. The asset offers the buyer secure in-place cash flow in a market that provides upside in rent achievement.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 700 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $7 billion in transactions, manages over 51 million square feet of space, and conducts over 1,500 appraisals annually. For more information, visit kiddermathews.com.