CRP Affordable Housing & Community Development Acquires Development Site In Belmont For $4.55M

The development site located at 678 Ralston Avenue in Belmont was sold for $4,550,000. The property spans 15,681 square feet with a price per square foot of $290. The transaction involved the buyer CRP Affordable Housing & Community Development and the seller Nelson Capital.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $4,550,000
• Address: 678 Ralston Avenue
• Market: Belmont
• Buyer: CRP Affordable Housing & Community Development
• Seller: Nelson Capital

The deal was facilitated by broker Alberto Guardado from RECG. Hanna John Azar from Compass Commercial represented the seller, Nelson Capital in this transaction. The future plans for the property include The Ridge at Ralston, a 65-unit affordable housing development. The Housing Endowment and Regional Trust of San Mateo County played a vital role in making this acquisition possible.