Kidder Mathews Brokers San Diego-Area 1031 Exchange

Multi-Housing News

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Multifamily investment brokers, Jim Neil, Eric Comer and Merrick Matricardi represented the buyer in the transaction involving a 26-unit apartment building in Clairemont, Calif.

Kidder Mathews has brokered the $6.9 million sale of a 26-unit multifamily community in Clairemont, Calif. Multifamily investment brokers Jim Neil, Eric Comer and Merrick Matricardi represented the buyer, local real estate investor Winslow Family LP. The transaction was part of a 1031 Exchange and the sale price represented a 4.3 percent cap rate on in-place income and expenses.

Located at 4290 Mount Abernathy, the apartment community is situated in the central Clairemont area of San Diego. The asset is conveniently located adjacent to Target, a number of big-box retailers, and several dining and entertainment venues. Nearby Interstate 805 provides easy access to downtown San Diego, which is within a 10-mile drive. Completed in 1980, the two-story building underwent an extensive, condo quality renovation in 2008.

Recently, Neil and Comer, both executive vice presidents at Kidder Mathews, have brokered the $14.1 million sale of 62-unit Rimrock Apartments in La Mesa, Calif.

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