The LAAA Team at Marcus & Millichap successfully closed the sale of 6527 Etiwanda Ave, a 9.15-acre lot in Etiwanda that was subdivided into 22 single-family lots. The property sold for above-list-price at $4,062,750 or $184,670 per lot to a local homebuilder.
According to Michael McNulty, Filip Niculete and Glen Scher of the LAAA Team who handled the transaction with expertise and an active approach: “When we listed the property in 2021 without any plans or entitlements in place for development, it presented challenges. However by close of escrow after a lengthy process spanning over two years and through strategic addendums addressing evolving circumstances along with zoning hurdles overcome; we were able to secure approval from city officials for subdivision into twenty-two approximately eighteen-thousand square foot lots.”
Throughout this extended period of time during which this deal took place there were multiple obstacles encountered but thanks to our diligent efforts as well as careful planning each hurdle was surmounted ensuring success without mentionable setbacks.”
