June 25, 2019 Comments Off on Value-Add Pacific Beach Apartment Property Trades Hands Views: 379 California News, San Diego

Value-Add Pacific Beach Apartment Property Trades Hands

The Madrid, an apartment community located at 1530 Chalcedony in San Diego, was acquired for $7 million. The buyer was MR Metro Group, LLC with managing member Roberto Walz. The seller was the Estate of Allen Carl Weiss.

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.

Kidder Mathews’ multifamily brokers, Jim Neil, Eric Comer, and Merrick Matricardi represented the seller in the transaction.

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