Thank you
Gregg Cochran
Gregg Cochran, Broker
714-369-0048
OPPORTUNITY ZONE Area. More information: https://selectsbcounty.com/major-initiatives/opportunity-zone. If you are looking for a lucrative investment opportunity with significant tax benefits, you may want to consider this 40 AC parcel located in an Opportunity Zone area. According to the IRS, Opportunity Zones are economically distressed communities that offer tax incentives to investors who reinvest their capital gains in Qualified Opportunity Funds (QOFs) that invest in these areas. Some of the tax benefits include: - Temporary deferral of taxes on previously earned capital gains until December 31, 2026 or until the QOF investment is sold or exchanged, whichever is earlier . - Basis step-up of previously earned capital gains invested in QOFs for at least 5 years (10% increase) or 7 years (15% increase). - Permanent exclusion of taxable income on new gains from QOF investments held for at least 10 years. This parcel has many attractive features that make it a prime candidate for development and growth. It is square in shape and flat, making it easy to build on. It has water rights and 50% mineral rights, which are valuable assets that run with the land. It lies along the southern edge of the approved High Desert Corridor (HDC), a 50-mile expressway that will connect Palmdale and Apple Valley with eight vehicle traffic lanes and two high-speed rail lanes. The northern portion of the parcel is adjacent to an on/off ramp site and a train stop for passengers, which will increase accessibility and traffic flow. The HDC project is expected to boost economic activity, create jobs, and enhance mobility in the region. The site also sits atop 2000+ acre feet of water (annually producing per CSUF Study), which is a scarce and precious resource in California. Electricity and natural gas lines are nearby, providing essential utilities for development. This is a rare opportunity to invest in a property with immense potential upside growth and tax advantages. Don't miss this chance to be part of an innovative community development program that aims to revitalize distressed areas and create long-term value for investors.
Sell a home like this and save $89,441 Find Out How
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 40
Lot Size Source: Assessor
Lot Size Square Feet: 1742400
Original List Price: 1,499,000
Listing Contract Date: 2018-08-15
Listing Agreement: Exclusive Right To Sell
Parcel Number: 0457161170000
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: ELMG - El Mirage
Directions: 1/2 mile west of Sheep Creek Rd on Parkdale Rd, 1/4 mile east of Tanner Rd. Site shares property line with the old Meadow Brook Dairy, now owned by the Phelan Pinon Hills Community Service District.
Zoning: RL
Source Property Type: Land
Area: ELMG - El Mirage
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
Bartlett Avenue, El Mirage, CA,92301 | $33,880 | -- | -- | -- | 108900 Sqft |
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 |
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 |
Copyright © 2024 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
ByOwner last updated this listing 05/06/2024 @ 23:44
MLS: OC18199737
LISTED BY: Gregg Cochran, Gregg Cochran, Broker
SOURCE: CRMLS
Buyer Agency Compensation: 2.75%
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.