A 16-acre vacant parcel of land with a tentative map for 78 lots at 1350 San Altos Place, Lemon Grove 91945, has been sold for $5,839,000, cash.
The buyer was San Altos-Lemon Grove LLC, a California limited liability company, 5780 Fleet St., Suite 225, Carlsbad 92008.
The seller of the property (assessor's parcel 576-550-01) was AFPC SoCal Properties I LLC, an affiliate of Paragon Management Company LLC, a California limited liability company managed by Roberto Jinich, Ricardo Jinich and Daniel Berkus.
Gunder Creager and David Santistevan, senior vice presidents of Colliers International, represented the seller and buyer.
The property, which is surrounded by residential areas on three sides -- and Lemon Grove Ave. and the San Diego Trolley on the fourth side -- provides a rare infill location for 7,000 square foot lots and 78 new homes in the area, Creager said.