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May 22, 2017

43-Unit Multifamily Community Sells for $12,040,000

San Diego, Calif. (May 22, 2017) - Hampton Court, a 43-unit multifamily community in San Diego, California, has sold for $12,040,000. Kidder Mathews' multifamily brokers, Merrick Matricardi, Jim Neil, and Eric Comer, who recently joined Kidder Mathews from CBRE where the transaction originated, represented the buyer in the transaction.

The complex is located at 4526 Illinois Street, within walking distance to popular restaurants and nightlife in North Park and Normal Heights. The buyer is planning extensive renovations and new amenities to the property including new windows and doors, a community center with pool table, flat screen TV, and a bocce ball court, and adding a gym.

"There are only four apartment buildings over 40 units in the entire 92116 zip code. Hampton Court is the newest building of the four, built after 1985. It has subterranean parking and elevator service, features that are rare for apartment buildings in this area," said Matricardi, senior vice president and partner with Kidder Mathews.

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 20 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 $5.6 billion in transactions, manages over 46 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit kiddermathews.com.

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