On July 8, 2024, Magnolia Properties acquired 4122 Bannock Ave, located in the desirable Clairemont submarket of San Diego. Magnolia is currently renovating the existing four units while securing permits to construct an additional 12 units within a new 3-story building. This expansion will proceed through a permits-only process, leveraging the site’s existing zoning and state and local Accessory Dwelling Unit laws.

The new development will offer 8,500 SF of living space, with each unit featuring a designated parking space and private balconies. With high-quality finishes and thoughtful design, this project is positioned to be an appealing choice for renters in this highly desirable area.