Marcus & Millichap, a leading real estate investment 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 6,998-square-foot lot in Hillcrest with zoning for RM-3-7 and included a Complete Community Tier 3 overlay within a Qualified Opportunity Zone.
According to Bove: “We are thrilled to witness this site being transformed into high-quality housing for the neighborhood.” This transaction demonstrates the resilience of development in San Diego as evidenced by its quick closing within just 45 days.
