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July 10, 2017

Apartment Complex in Chula Vista Sells for $4,212,000

San Diego, Calif. (July 10, 2017) - A 24-unit apartment complex, located at 152, 156, 160 and 164 Garrett Avenue in Chula Vista, California, has sold for $4,212,000 in an all cash off market transaction. Kidder Mathews' multifamily brokers, Merrick Matricardi, Jim Neil, and Eric Comer represented the buyer, Exeter 17307 DE, LLC, a subsidiary of F&F Income Properties, LLC, in the transaction. The seller was Golden Square Business Ventures USA, LLC.

The property sits on four contiguous parcels and is comprised of 16 one-bedroom, one-bath units and eight two-bedroom, one-bath units. The property also has 16 detached garages and four laundry rooms.

"The circumstances of this transaction were unique," said Matricardi. "The timeframes were very tight and my client was able to close escrow in a total of 16 days. I don't know many buyers who could perform that quickly with all cash. It was a true win-win for both sides," 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 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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