Marcus & Millichap, a leading commercial real estate firm, recently closed the sale of a 0.16-acre parcel of land in San Diego for $1,600,000. The property was marketed by Aaron Bove and Jared Wallach from the firm’s San Diego Del Mar office on behalf of the seller, 3971 Georgia Avenue San Diego LLC.
The buyer, RD Dev Properties LLC was also procured by Bove and Wallach. The property is located at 3971 Georgia St., featuring an existing duplex on a prime Hillcrest site with RM-3-7 zoning and Complete Community Tier 3 overlay in addition to being situated within a Qualified Opportunity Zone.
According to Bove: “We are thrilled to witness this site’s transformation into high-quality housing for the neighborhood.” He also noted that the quick closing within just 45 days demonstrates San Diego’s resilience in development projects.
