The LAAA Team at Marcus & Millichap successfully closed the sale of 6527 Etiwanda Ave, a 9.15-acre lot in Etiwanda subdivided into 22 single-family lots. The property was sold for $4,062,750 to a local homebuilder at an above-list-price of $184,670 per lot.
According to Michael McNulty, Filip Niculete and Glen Scher from the LAAA Team who handled the transaction with expertise and efficiency: “When we listed this vacant land in 2021 without any plans or entitlements in place, little did we know that it would go through a lengthy escrow process spanning over two years.” However by the time escrow closed on this deal earlier this year (2023), all necessary approvals were secured from city authorities for subdivision into individual lots measuring approximately 18,000 square feet each.
Despite facing several challenges during these past months including zoning hurdles and other delays along the way; our team remained committed to ensuring its successful completion. We worked tirelessly behind-the-scenes crafting addendums that addressed evolving circumstances while keeping our client’s best interests at heart throughout every step of negotiations – ultimately steering them towards closing their dream investment opportunity without any hiccups whatsoever!
This recent achievement is yet another testament to our team’s unwavering dedication towards delivering exceptional results for clients looking forward to investing in prime real estate opportunities across Southern California region!
