The Madrid, an apartment community located at 1530 Chalcedony in San Diego, California, has been purchased for $7,000,000. The seller was the Estate of Allen Carl Weiss. The buyer was MR Metro Group, LLC with managing member Roberto Walz. Kidder Mathews’ multifamily brokers, Jim Neil, Eric Comer, and Merrick Matricardi represented the seller in the transaction.
The 19-unit apartment building includes a mix of large one-bedroom and two-bedroom, two-bath floor plans. It is located in the North Pacific Beach neighborhood, close to several beaches and surf spots. Built in 1969, it is in its original form, a true value-add opportunity.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 800 real estate professionals and staff in 22 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 $9 billion in transactions, manages over 55 million square feet of space, and conducts over 1,600 appraisals annually. For more information, visit kidder.com.
