Kidder Mathews Arranges Sale of San Diego Community

Built in 1989, 204 Clark St. is a 20-unit, 17,578-square-foot community with one- and two-bedroom apartments. The off-market transaction property offers easy access to both East Washington Avenue and North Broadway.

204 Clark St. in Escondido, Calif.
204 Clark St. in Escondido, Calif.

Kidder Mathews has arranged the sale of a 20-unit multifamily community located at 204 Clark St. in Escondido, Calif., for $3.9 million. Gil Lackritz sold the 20-unit community which comprises four one-bedroom, one-bath units and 16 two-bedroom, two-bath units.

Kidder Mathews Senior Vice President Merrick Matricardi, Executive Vice President Jim Neil and Eric Comer represented the buyer, Gordon Reese, a private investor who owns approximately 200 apartment units in the San Diego area.

“The sale of 204 Clark Street was a direct deal with the seller and had not been on the market,” said Matricardi in prepared remarks. “The complex, built in 1989, attracted the buyer because it is a value-add opportunity.”

The San Diego county assessors’ office most recently evaluated the 17,578-square-foot property at $2.3 million. East Washington Avenue, North Broadway and California State Route 78 are easily accessible from the property.

Last year, Kidder Mathews closed the $23.3 million sale of MidTown Center, a multifamily property in Seattle that occupies a full city block. 

Photo via Google Street View