San Diego, Calif. (February 13, 2018) - Kidder Mathews announced that a 20-unit multifamily complex, located 204 Clark Street in Escondido, California, has sold for $3,960,000. Kidder Mathews' multifamily brokers, Merrick Matricardi, Jim Neil and Eric Comer, represented the buyer, Gordon Reese. Mr. Reese is a private investor who owns 200 apartment units in San Diego County. The seller was Gil Lackritz.
The 20-unit multifamily complex is comprised of four one-bedroom, one-bath units and 16 two-bedroom, two-bath units.
"The sale of 204 Clark Street was a direct deal with the seller and had not been on the market," said Matricardi, senior vice president and partner with Kidder Mathews. "The complex, built in 1989, attracted the buyer because it is a value-add opportunity," he said.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with nearly 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 nearly 50 million square feet of space, and conducts 1,500 appraisals annually. For more information, visit kiddermathews.com.