Barrio Logan sign. Photo by Chris Stone
A nearly 35,000-square-foot plot of land in Barrio Logan earmarked for housing has been sold for $5 million, according to a commercial broker.
Aaron Bove, a senior vice president in Marcus & Millichap’s San Diego Del Mar office, represented the seller, an individual/personal trust. He also represented the buyer, a limited liability company.
The investor intends to build around 70 “modern” multi-family apartment units on the land, at 1741 Newton Ave., near Chicano Park. The site would include workspace on the ground floor.
Marcus & Millichap, a commercial real estate brokerage firm, offers investment sales, financing, research and advisory services.