February 21, 2024
3971 Georgia St. Picture credit score: Courtesy, Marcus & Millichap

A small parcel of land close to the place Hillcrest and North Park meet has been bought for $1.6 million, in response to an actual property brokerage.

Aaron Bove, senior managing director, investments in Marcus & Millichap’s San Diego Del Mar workplace, represented the vendor, 3971 Georgia Avenue San Diego LLC. 

The customer, RD Dev Properties LLC, was procured by Bove and Jared Wallach, an funding specialist within the San Diego Del Mar workplace.

The 0.16-acre property is a 6,998-square-foot lot with an current duplex positioned at 3971 Georgia St.

The positioning was zoned RM-3-7 and included a Full Group (CCHS) Tier 3 overlay in a Certified Alternative Zone (QOZ).

“We’re very excited to look at the transformation of the positioning into high quality housing for the neighborhood,” Bove mentioned. The property has a 45-day escrow.

Marcus & Millichap (NYSE: MMI) is a industrial actual property brokerage specializing in funding gross sales, financing, analysis and advisory providers.