[ad_1]
In accordance with the true property brokerage company, a parcel of “Linda Vista”, which is just half an acre, was offered for 3.96 million {dollars}.
Aaron Bove and Jared Wallach, funding professionals in Marcus & Millichap’s San Diego Del Mar workplace, represented the unnamed vendor. The customer, an up-and-coming developer, was acquired by Bove.
The location may result in 75 models of recent housing, the brokerage stated.
“There’s nonetheless a marketplace for housing and rental initiatives beneath building, pushed by this and a number of other different current closings,” Bove stated. “We have been additionally capable of shut on a delinquent lot inside 120 days, which was an enormous success for each our purchaser (and) vendor on this altering market.”
The 18,461-square-foot website, at 6645 Linda Vista Highway, was as soon as house to a gasoline station. The .42-acre lot, a half-mile from the College of San Diego, acquired a number of affords and ultimately closed at listing worth.
“The redevelopment of the Riverwalk, the proximity to Francis Parker College and USD, and the constant renovation of present residence buildings make Linda Vista one of many hottest markets in San Diego,” Bove stated.
Marcus & Millichap (NYSE: MMI)a industrial actual property brokerage agency specializing in funding gross sales, financing, analysis and advisory providers.
[ad_2]
Supply hyperlink