Thank you
Gregg Cochran
Gregg Cochran, Broker
714-369-0048
This 2.5AC parcel of flat/level open space land is located in an Opportunity Zone area, which offers significant tax benefits for investors who reinvest their capital gains in qualified projects. According to the IRS, Opportunity Zones provide three main tax benefits: - Temporary deferral of taxes on previously earned capital gains until December 31, 2026 or until the investment is sold or exchanged, whichever is earlier. - Step-up in basis for previously earned capital gains invested, which reduces the amount of taxable gain by 10% if held for at least 5 years and by 15% if held for at least 7 years. - Permanent exclusion of taxable income on new gains from the sale or exchange of the investment if held for at least 10 years. This parcel is ideal for investors who are looking for long-term returns and social impact. It is situated in the El Mirage Area, which has abundant natural resources and potential for economic development. The parcel sits atop the Oestre Aquifer, which can produce pristine water annually. It also has unobstructed views of the San Gabriel Mountains and is near the El Mirage Dry Lake. Moreover, it is close to a proposed site for a large biomass alternative fuel production facility, which could create jobs and revenue for the community. The parcel allows for various uses such as residential, agricultural, recreational, medical, alternative energy production and more. For more information on Opportunity Zones and their benefits, please visit https://selectsbcounty.com/major-initiatives/opportunity-zone.
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Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 2.5
Lot Size Source: Assessor
Lot Size Square Feet: 108900
Original List Price: 33,880
Listing Contract Date: 2021-10-12
Listing Agreement: Exclusive Right To Sell
Parcel Number: 0457161430000
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: ELMG - El Mirage
Directions: From Sheep Crk Rd, West on Bartlett aprox. 1/2 mile. On SWC of Bartlett and Meridian
Zoning: RL
Source Property Type: Land
Area: ELMG - El Mirage
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
Verano Dr, El Mirage, CA,92301 | $250,000 | -- | -- | -- | 899078 Sqft |
Mirage Lake Road, El Mirage, CA,92301 | $75,000 | -- | -- | -- | 326700 Sqft |
Markham Street, El Mirage, CA,92301 | $25,001 | -- | -- | -- | 90604 Sqft |
Markham Street, El Mirage, CA,92301 | $25,003 | -- | -- | -- | 100188 Sqft |
1555 Linson Street, El Mirage, CA,92301 | $500,000 | 2 | 1 | 800 | 871200 Sqft |
Palmer Road, El Mirage, CA,92301 | $45,000 | -- | -- | -- | 871200 Sqft |
Parkdale Road, El Mirage, CA,92301 | $1,499,000 | -- | -- | -- | 1742400 Sqft |
Bookasta Road, El Mirage, CA,92301 | $800,000 | -- | -- | -- | 6969600 Sqft |
3050 Yucca Road, El Mirage, CA,92301 | $55,000 | -- | -- | -- | 435600 Sqft |
Bookasta Street, El Mirage, CA,92301 | $45,000 | -- | -- | -- | 435600 Sqft |
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ByOwner last updated this listing 04/30/2024 @ 04:07
MLS: OC21226521
LISTED BY: Gregg Cochran, Gregg Cochran, Broker
SOURCE: CRMLS
Buyer Agency Compensation: 4.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.