4290 Mount Abernathy, a 26-unit apartment building located in central Clairemont 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.
For the full story, go to the The Clairemont Times.
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