4709 Nogal St 0.26 Acres of Commercial Land Offered at $3,900,000 in San Diego, CA 92102

Mayflower on Nogal is a 0.26-acre mixed-use multifamily development located within a federally designated Qualified Opportunity Zone (QOZB) in San Diego's Lincoln Park neighborhood. The project is planned for 117 residential apartments, five retail spaces, and 85 covered parking spaces, with direct access to Interstate 805 and the greater San Diego metropolitan area.

This opportunity is ideally suited for qualified developers, multifamily operators, Opportunity Zone sponsors, family offices, private equity real estate investors, and strategic capital partners seeking control of a substantially advanced San Diego development platform. The incoming development partner acquires project control and development rights, while the sponsor retains a 22% ownership interest through rollover participation, creating meaningful alignment throughout capitalization, development, and stabilization. Existing development platform, underwriting package, development work product, and Qualified Opportunity Fund/Qualified Opportunity Zone framework included with 4709 Nogal Street.

Unlike a traditional land acquisition, 4709 Nogal Street conveys a significantly advanced development platform, including completed financial underwriting, an established Qualified Opportunity Fund (QOF)/Qualified Opportunity Zone (QOZ) structure, operating agreement framework, project schedules, permitting strategy, and comprehensive development documentation. Building plans are currently being finalized for permit submission. Based on the current permitting process, water-line relocation has been identified as the principal remaining pre-permit infrastructure item, with the remaining permit-phase scope, schedule, and budget incorporated into the overall development plan.

Key milestones include the Qualified Opportunity Zone Safe Harbor expenditure deadline of August 31, 2030, with targeted construction completion by December 2029. The financial model assumes long-term stabilization with an investment horizon extending through Year 10.

This offering represents a compelling, execution-ready investment supported by a substantially completed pre-development program and significant sponsor investment. With an established QOF/QOZ structure, institutional-quality underwriting, and a clearly defined permitting pathway, 4709 Nogal Street provides investors with a rare opportunity to assume control of an advanced mixed-use development within one of Southern California's most supply-constrained multifamily markets. The diversified residential and retail program, combined with continued sponsor participation through retained ownership, provides strong sponsor alignment while positioning the investment for long-term value creation and institutional-quality risk-adjusted returns.